Their total investment will be up to $3billion, they said.
Lt. Gov. Eloy S. Inos, Press Secretary Angel A. Demapan, Department of Public Lands Secretary Oscar M. Babauta, Department of Public Works Secretary Martin Sablan and Marianas Visitor Authority Managing Director Perry Tenorio met with Neo Gold Wings officials and partners in the Department of Public Health conference room at 3 p.m., yesterday.
The CNMI officials also witnessed the signing of a memorandum of understanding between Neo Gold Wings president Joseph Hyun and Beijing Huagaolindao Investment Consultation Co. Ltd. president Huang Fu Ming.
The MOU involves the construction of over 700 housing units as an additional feature of the project that will include a hotel, resort, golf course, villas and convention center on a 300-hectare public land on Tinian.
Hyun told reporters that once they start the project, hopefully before the end of this year, Tinian will have a new and greater tourist attraction in the next few years.
Inos said the administration is grateful for the investors’ effort in “looking for us, instead of us looking for them.”
The CNMI government, he said, will do all whatever it can to help investors make the project successful.
Once the permitting and public hearing process get done, Neo Gold Wings and its partners will be ready to start the projects, Inos said.
Neo Gold Wings first revealed its plan to build the hotel resort but DPL later issued a notice to vacate because the investor failed to comply with the terms and conditions and pay the land lease that amounted to over $100,000.
But Inos said Neo Gold Wings has already made an “arrangement” with DPL.
The investors promised to pay all the arrears, update all the requirements that were already met and expressed willingness to pay additional advance rent.
“I understand the DPL is reconsidering their action,” Inos said.
“I am excited because at least these folks, they broke ground over a year ago. I understand that from that time until now, they have been working with design work and so forth and identified appropriate investors to be involved with different projects,” he added.
There are four other investor groups that will partner with Neo Gold Wings: Hyundai IT Co. Ltd., Lusenes Real Estate Co. Ltd., New York-based Vitalla and Neo Gold Wings-China.
