The Soltuna Company Limited (LTD) and Western Provincial Government (WPG) through its business arm have signed a renewed tenancy agreement formalising the forty-six properties which the fishing company had rented on behalf of its employees working in the tuna industry there in Noro.
The newly signed lease which was done on 14th August has been an upgraded one from a previous agreement.
Under the new deal, both sides are protected from liabilities as well as their rights and obligations/mechanism and several provisions.
In a statement issued in the Western Province Investment Corporation –WPIC is an ongoing undertaking between WPIC and Sotuna, the last one was initiated back in 2017 by the former Maepio government.
WPIC owned a total of 58 houses. This includes Noro Lodge, Baru Girls Hostel, and Baru Staff Housing.
The current book value of all WPIC land and properties is estimated to worth more than fifty – one million dollars.
Three standing include the CEO of Soltuna, Jim Alexander, Premier David GinaChairman WPIC, and WPIC Legal Attorney, John Kouni soon after the signing ceremony at Soltuna Office.
BY ULUTAH GINA
GIZO NEWS BUREAU