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Government Awards 90-Year Lease to BuildCo for Warehouse Project

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Tarawa, Kiribati - In a major development, the government has awarded a 90-year lease to BuildCo for a warehouse project in one of Tarawa’s most prime locations. The lease was granted after a thorough evaluation process involving several government agencies.

Lease Approval Process

According to sources, BuildCo expressed interest in leasing land from the Land Management Department (LMD) at the Ministry of Environment, Land and Agriculture Development (MELAD). LMD inspected the site and determined any constraints and opportunities for land use before approving the application.

Regulatory Approvals

Public Utility Board (PUB)

The company then obtained approval from PUB, which ensured that there were no underground electricity cables or water pipes that would pose a danger to construction. PUB also confirmed that the plot was safe to excavate.

Sublease Advisory Allocation Committee (SAAC)

Subsequently, BuildCo received approval from SAAC after meeting all necessary requirements. The committee, chaired by the Secretary of MELAD, reviewed the application and ensured that it met all regulatory standards.

Environmental License Approval

The project then required an environmental license, which was granted after a review of BuildCo’s activities to determine whether they would have an environmental impact.

Public Works Department (PWD) Approval

Next, BuildCo submitted plans to PWD for approval. The department reviewed the plans, ensuring that they met building codes and regulations. PWD also conducted site inspections before construction began.

Additional Regulatory Approvals

Throughout the process, BuildCo was required to obtain approvals from various government agencies, including:

  • Environment and Conservation Department (ECD)
  • Local Land Planning Board

Project Timeline

The warehouse project is expected to be completed within a specified timeframe, with regular inspections by PWD to ensure compliance with building regulations.

Quotes

“This is a significant milestone for our company, and we are thrilled to have been awarded this lease,” said BuildCo’s representative. “We look forward to working closely with the government agencies involved in this project.”

Revenue Generation

The 90-year lease is expected to generate significant revenue for the government, while also providing much-needed infrastructure for the local community.

Procedure Timeline:

  • Expression of interest and site inspection (1 day, no charge)
  • Approval from Public Utility Board (7 days, AUD 1)
  • Land use sublease approval from Sublease Advisory Allocation Committee (90 days, no charge)
  • Environmental license approval (15 days, AUD 10)
  • Approval from Public Works Department (14 days, no charge)
  • Approval from Local Land Planning Board (30 days, AUD 523)
  • Site inspections and completion of project (various dates, no charge)

Total Cost: AUD 534

Note: All costs are in Australian dollars.