Libya’s sovereign fund to build five-star hotel in capital of Sao Tome and Principe

5 October 2010

Sao Tome, Sao Tome and Principe, 5 Oct – Libya plans to build a five star hotel in the centre of the city of Sao Tome, a project expected to cost US$35 million, the prime minister of Sao Tome, Patrice Trovoada said Monday in Sao Tome.

The prime minister noted that construction of the hotel would be funded by Libya’s sovereign fund and that work could, “begin this year.”

Trovoada also said that, as well as the hotel, Libya also planned to build a condominium at Praia Governador, (near the international airport).

“The hotel is one of the projects related to the Libyan sovereign fund, which has many tens of millions of dollars for investments in Sao Tome,” said Trovoada on his arrival in Sao Tome from Libya, where he made a 48-hour visit.

The Sao Tome prime minister also discussed with the Libyan authorities food aid from the country to the archipelago, budgetary aid, tourism and transport, namely for linking the island of Principe to the rest of Africa.

Trovoada is due to travel to Libya again next week to take part in the Afro-Arab summit. (macauhub)