Release date: 24 October 2005
Promoter – Financial Intermediary
Club Méditerranée SALocation
Description
Construction, start-up and operation of a high-grade beach resort hotel to be operated by the Club Méditerranée Group.
Objectives
Promoting private sector activities which add value to local resources is one of the prime tasks of the EIB in the framework of the Cotonou Investment Facility. The hospitality industry, where Mauritius has competitive advantage, falls in this context as it represents a driving sector of the country’s economy and a major provider for employment in a country which is facing reduced prices for its sugar and textile exports.
Comments
Tourism / Hospitality
Sector(s)
Proposed EIB finance (Approximate amount)
Up to EUR 19 million
Total cost (Approximate amount)
EUR 48 million - 51 million
Environmental aspects
The project has been subject to a full Environmental Impact Assessment procedure, including stakeholders’ consultation, with favourable results.
Procurement
The promoter has adopted procurement procedures which are usual in the hospitality industry and satisfactory to the EIB.
Status
Signed - 11/12/2005