25 Aug 2008

Solomons' Western Province appeals for Honiara help to save Soltai

3:01 pm on 25 August 2008

The Solomon Islands Soltai Fishing company says it needs about eight million US dollars to avoid bankruptcy and save about 1,600 jobs.

Soltai Fishing is a government-owned company, with the national and the Western Province governments each having shares.

Its deputy chair, the Western Province Premier Alex Lokopio, says Soltai needs new facilities to run properly.

Mr Lokopio says the company has a few options to avoid bankruptcy, which will be discussed in a meeting this afternoon.

"We have appealed to the national government to come in and assist us here [financially]. The two shareholders are asked now to put in some money. And next week we're going to have a meeting to see if we can sell some of our shares."

Alex Lokopio says selling the shares will be a last resort.