Gov’t Terminates Tourist Resort Project

 

The Minister of Economy, Planning and Regional Development, Louis Paul Motazé, has terminated an agreement signed on October 30, 2009 between the State of Cameroon and the British firm Ruwaad Holding Ltd for the construction of an FCFA 1billion tourist resort in Yoyo, Littoral Region.

According to Motazé, the termination of the agreement follow a formal notice addressed to Ruwaad Holding on January 29, 2016.

“For several years now, Ruwaad has not shown any interest in continuing the project as evidenced by the fact that more than three years after the signing of the agreement, the company has not been able to create the project management company (Cameroon International Project Company, or CIP), within the sixty-day period after the signing of the Convention.

The Yoyo tourist resort is made up of a beach developed over several kilometres, parks, hotels, restaurants among others, which was to be built over 10,000 hectares.

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Author: achablah

I am a Student Journalist in the University of Buea

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