Hillview Limited Summary Of Project Information (SPI)       Project Name    Fiji:  Outrigger Reef Resort            Region    Asia        Sector       Project No008650   Projected Board DateJune 12, 1998   Company NameHillview Limited   Technical Partner and/or Major Shareholders    	Coral Coast Fiji Limited (CCFL), a registered Fiji company, would own about 43% of Hillview Limited''s (the new project companys) share capital.  The shareholders of CCFL are Geoffshaw Hospitality Management Pty. Ltd., and Cliff Investments Pty. Ltd ., both Australian registered companies owning 80% and 20% of CCFL shares, respectively.  IFC and the European Investment Bank (EIB)will hold about 48% of the equity in the form of preferred shares.  Outrigger Hotels provide the balance (9%) of equity financing and will manage the hotel. Outrigger is the largest operator in Hawaii with over 9,000 rooms under management.    Project Cost Including Proposed IFC Investment    	Total project cost is estimated to be US$25.3 million of which IFC will provide US$4.5 million in quasi-equity      Location of Project and Description of Site    The project is located 75 kilometers south of Nadi Airport along Fiji''s Coral Coast.      Description of Company and Purpose of Project    	The project supports the re-development of the existing 68 room Reef Resort to a 255 room.  The new hotel will have 160 standard rooms, 47 bungalows and 48 waterfront rooms. This would be Fijis first major tourism investment in nearly ten years and would make an important contribution to economic development and employment in the area. The tourism sector is the largest source of foreign exchange earnings for Fiji and over 250 jobs will be created.  IFC participation completed the financing package and provided strength for the project.         Environmental Category and Issues    	This is a category B project according to IFCs environmental review procedure.  Key environmental issues associated with this project include: sewage and liquid effluents disposal, solid waste disposal, construction impacts, protection of coastal resources, employee housing, water and power supply, chemicals application, CFCs.  Health and safety issues include employee safety and training, fire protection measures and emergency response.  While this is a category B project, the sponsors were required to prepare an independent focused environmental impact study (EIS) addressing the above key issues. The sponsors have agreed to implement the recommendations outlined in the EIS including, the installation of a sewage line to the nearest municipal treatment facility.  In addition, the sponsor has committed to conduct, as a condition of first disbursement of IFC''s investment, an independent fire safety audit of all structures.       The  is  from the Public Information Center.       Date SPI sent to InfoShop     April 29, 1998      This Summary of Project Information is prepared and distributed to the public in advance of consideration of the proposed transaction by the Corporations Board of Directors.  It is provided for the purpose of enhancing the transparency of IFCs activities and should not be construed as presuming the outcome of IFC Board consideration.    For Additional Information contact:  Corporate Relations Unit -   telephone: (202) 473-7711   facsimile: (202) 974-4384    L:\SPI\SP8650.DOC   April 28, 1998 1:49 PM  Environmental documents for this project are available at http://www.ifc.org and from the World Bank InfoShop (http://www.worldbank.org/html/pic/aboutinfo.html).