A MULTI-MILLION water bottling investment on Santa Cruz, Temotu Province, is likely to commence by the end of this year 2016 once formalities are finalised with relevant authorities.
Shareholders Nebo Investment, the Provincial Government, the investor, Solomon Mining Limited are expected to sign a Memorandum of Understanding (MoU) soon which will ensure Temotu Province gets maximum benefit from the proposed development.
Nebo Investment Ltd Chairman and also spokesperson for Solomon Mining Ltd, Mr Stanley Bade said their lawyer is still drafting the MoU to seal the deal by mid August.
He explained that once the MoU is signed, Nebo Investment Ltd and Solomon Mining Ltd will register a joint company with the name Santa Cruz Mineral Water Ltd.
Santa Cruz Water Ltd will then apply for an operation business licence to the Temotu Province and another MoU will be signed between the company and the province.
According to Solomon Mining’s owner and also the main investor, Mr Martin Lee, they will produce up to five thousand to twenty thousand bottles of water per hour.
“We have secured some possible markets in Europe and Asia while a company in Germany has shown interest to import water once the company starts bottling,” he said.
Mr Lee is impressed with Temotu provincial government and the people of Temotu province for their support towards this project.
The investor had already identified a suitable water source in the Graciousa Bay area, most suitable for supplying fresh water for refining and bottling.
Mr Lee said the multi-million dollar investment should be seen as means to move forward for Temotu Province, which has often been seen as lacking behind the rest of the country in terms of major economic development projects.
Meanwhile, Mr Bade said the target is to export twenty thousand bottles of water every month.
He said the identified water source possesses all the credential mineral components most suitable for a high-grade manufactured mineral water.
Laboratory tests by the company had shown that the water source is the second of its kind in the world, next to that of Italy.
Such high-grade mineral ingredient water from the source will be very demanding worldwide.
“The deal will be to manufacture water alone, nothing more, nothing less,” Mr Sade said.
This multi-million investment of bottling fresh water is expected to create a major revenue base for Temotu province to meet the costs of delivering services to its people.
Feasibility focussed target by the company is to provide employment for about 500 workers and export mineral water products direct to Hong Kong and China.
BY ELLIOT DAWEA
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