The Chief Executive Officer of the Island Development Company (IDC) has told the Commission of Inquiry into the Lease and Development of Assomption Island that civil works on the Assomption eco-tourism project should have been completed by June 2026.
Appearing before the commission, Cyril Bonnelame said the civil contract between IDC and the project developer set a completion deadline of 30 June 2026. He said the agreement was signed on 29 October 2024 and provided for a 20-month construction period.
Mr Bonnelame told the inquiry that after joining IDC in 2025, he identified differences between timelines discussed during negotiations and those written into the contract.
“Apparently the discussion was sealed about a 26-month project,” he said.
However, he confirmed that the signed contract reflected a shorter timeframe.
Mr Bonnelame said IDC has since reached out to the developer, Ocean Breeze Investment, to rectify the issue. He told the commission that discussions are ongoing and that the matter is yet to be finalised.
With several delays to the project, including a current stop notice, IDC now faces a potential financial penalty for delays in completing the works on Assomption.
Mr Bonnelame said the civil contract includes a 10% penalty if the project is not completed within the agreed period. On a project valued at US$40.6 million, this would amount to about US$4 million, or roughly 58 million Seychelles rupees, depending on the exchange rate.
He was responding to questions from Commissioner Twomey. Mr Bonnelame confirmed that the penalty provision forms part of the contract between IDC and the developer, Ocean Breeze Investment.
The commission heard that the civil contract covers all major works on the island. These include 37 villas, four restaurants, back-of-house facilities, and all engineering infrastructure. This also includes photovoltaic plants, waste management systems, a spa, and a health centre. All works were required to be completed within the 20-month period set out in the agreement.
Mr Bonnelame rejected claims made earlier before the commission that more than half of the project had been completed.
“Completion is a lot less than 50%,” he said.
He told the inquiry that IDC carried out its own assessment through its monitoring team. According to that assessment, around 20% of the work had been completed when a stop notice was issued.
Mr Bonnelame also confirmed that current policy requires all construction on outer islands to be carried out by IDC. He said the company also controls ancillary services provided on those islands, including waste management and pest control.