26 Mar 2015

American Samoa Govt won't invest in food plant

3:04 pm on 26 March 2015

The American Samoa Governor has signed an agreement to allow AVM Bernardo Engineering to look for a company to manage a proposed food plant, after the Government turned down an offer to invest in the business.

Lolo Moliga says the Government doesn't have the funds and it goes against the Government's principles to do so.

AVM, a Filipino company, had offered a 10 percent shareholding in the company.

Lolo has now given the green light for AVM to find a third party willing to invest.

The food processing plant would employ 700 to 1,000 people and AVM will invest more than US$100 million dollars.

Get the RNZ app

for ad-free news and current affairs