Landowners of Monasavu Hydro Dam have received $5.1 million in annual rental payments over the last 20 years.
This was confirmed by the iTaukei Land Trust Board which issued a statement in response to a post by landowner, Jope Masiyaka, who raised concerns over the payment of lease monies to his people.
“Although the issuance of a water lease is outside the legal jurisdiction of TLTB, FEA has been faithfully paying water royalty from 2006 until now,” the TLTB said in the statement.
“A total of $5.1m has been received and distributed to the respective landowners over 20 years.”
The board statement said annual rental from Energy Fiji Ltd began at $160,000 per year in 2006.
“This amount has been subject to periodic reviews and adjustments every five years, resulting in the current rental figure of $500,000 per annum.
“Since 2006, the landowners have received a total of $5.6m in rental.
“In addition, TLTB maintains on behalf of the Monasavu landowner’s investments in Fijian Holdings Ltd, Fijian Holdings Unit Trust and Unit Trust of Fiji.
“The value of the investment portfolio is currently $2.1 million.”
Energy Fiji Ltd (then Fiji Electricity Authority) commissioned its Monasavu Hydro project in 1983. The land on which the infrastructure (which includes the dam and power station) was built was acquired by outright purchase by the Government in 1978.
The Monasavu water catchment area was initially not acquired or leased by the Government. Over time, however, the landowners became aggrieved that they were being stopped from using the catchment and were being deprived of their resource and land use.
