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Sao Tome and Principe: Sao Tome group invests in tourism on the archipelago [ 2008-01-09 ]

(Now This Is Nice, They're Building Us A Place To Meet When We Hit $10. R.M.)

Sao Tome, Sao Tome and Principe, 9 Jan – The Gibela group of Sao tome and Principe, this year plans to invest US$16 million in tourist facilities on the archipelago, the company’s chairman, Aurélio Martins said Tuesday in Sao Tome.

Speaking to Macauhub, Martins said that this tourism investment project would include construction of a residential complex on Sao Tome island, with several luxury buildings estimated to cost US$10 million.

He added that along with the residential project, for rental or sale, Gibela’s tourism project will also include construction of a resort village estimated to cost US$6 million on Pomba beach, some kilometres from the capital.

As well as this project, the group, which also operates in Angola, in 2008 also expects to inject just over US$3 million in building a university to teach, amongst other subjects, medicine and agronomy on the Sao tome archipelago.

As well as construction, the Gibela group has also invested in the areas of commerce, via imports and exports of goods between Angola and Sao Tome and Principe. (macauhub)