The Fijian Government has committed $3 million to Counter Ruck Pte Limited which was established by the Fiji Rugby Union to own and operate the Swire Shipping Fijian Drua.
This comes after a signing ceremony today which was officiated by the Attorney General and Minister for Economy Aiyaz Sayed-Khaiyum, the Chairman of FRU Commodore Humphrey Tawake, CEO of FRU John O’Connor and the CEO of the Fijian Drua Brian Thorburn.
Sayed-Khaiyum says this is part of the $6 million which was announced in the Revised Budget and the remaining $3 million will be committed in December this year.
He adds this will give the Fijian Government a shareholding of 51% in the company.
Sayed-Khaiyum says they had a lot of hard negotiations in this respect because it needed capitalisation.
Fijian Drua CEO Brian Thorburn says without this support and capitalisation, Drua would not be in place.
Chairman of FRU Commodore Humphrey Tawake says the Fijian Government’s financial commitment further strengthens the Fijian Drua in assessing the necessary high performance requirements in order to succeed as a team.
