‘Floating Island’ points to greener tourism

A view of the resort on an artificial island made with recycled plastic waste on the Ebrie Lagoon in Abidjan, Ivory Coast. (AFP)
Updated 26 August 2019
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‘Floating Island’ points to greener tourism

  • The island charges 15,000 CFA francs ($25) per person per day, which includes a meal and the ferry, and 60,000 CFA francs for a night

ABIDJAN: The seaside resort offers visitors a cool drink or tasty meal, a dip in a pool, a karaoke session or an overnight stay, all with a view.
Nothing much new there, you may say — creature comforts like this are pretty much standard in tropical hotels.
The big difference, though, is that this mini resort is also a moveable island that floats on plastic bottles.
Riding on the laguna in Abidjan, Ivory Coast’s economic hub, the unusual complex floats on a platform made from 700,000 discarded bottles and other buoyant debris.
Its inventor, Frenchman Eric Becker, says his creation can help greener, more mobile tourism — something less harmful to seas and coastlines than traditional fixed, concrete resorts.
His “Ile Flottante” — French for “Floating Island” — comprises two thatched bungalows and a restaurant, two small pools, trees and shrubs and a circular walkway, spread out over 1,000 square meters.
Visitors are brought to the moored island by a boat. Water is provided by a pipe from the shore. Electricity is supplied by solar panels, backed by a generator.
The island is bigger than a moored boat and handier than a jetty as it can also be taken to other locations, Becker told AFP.
“It really is an artificial island that floats — you can move it.”
Becker, a former computer entrepreneur, first toyed with the idea of building a catamaran.
But it was when he came to Abidjan and saw the lagoon that the vision of a floating, moveable island came into his mind — and he sold everything he owned to achieve it. The first step was to forage for everything floatable — “plastic bottles, bits of polystyrene, even beach sandals.”
Bemused locals gave him the nickname of “Eric Bidon” — a word that has a subtle dual meaning of jerrycan and phoney.
“We bought disused bottles off people, we foraged for them in the lagoon. After a while, we learned to follow the wind and find the places where floating rubbish accumulates,” he said.
After living on his island for a number of years, Becker turned it into a hotel last year.
He has around 100 customers a week, mostly curious Ivorians or ecologically friendly tourists.

Others want a relaxing break from the bustling city and to use its swimming pools — taking a dip in the lagoon, fouled by industrial pollution and sewage outflows is an act for the foolhardy.
“When you’re competing with major hotels, you need an original idea like a floating island. It’s become a tourist attraction,” said Mathurin Yao Saky, a friend who has been advising Becker on the scheme.
Charles Moliere, a 28-year-old Frenchman who works in Ivory Coast for a large corporation, read about the resort in a guidebook.
“It’s very original, it’s a very untypical place — I’ve seen nothing like it elsewhere,” he said.
“I think it’s a neat idea to give a second life to plastic like this and to make a kind of small technical breakthrough. I like this place a lot.”
The island charges 15,000 CFA francs ($25) per person per day, which includes a meal and the ferry, and 60,000 CFA francs for a night.


Saudi market regulator in talks with Aramco on IPO rules

Updated 18 September 2019

Saudi market regulator in talks with Aramco on IPO rules

  • Kingdom’s stock market regulator typically requires firms offer at least 20% to 30% of their shares when floating
  • Aramco’s primary listing will be on the Saudi stock exchange (Tadawul) in Riyadh

RIYADH: Saudi Arabia’s Capital Market Authority (CMA) is in talks with Saudi Aramco and its advisers about the regulatory requirements for listing on the domestic stock exchange, its chairman Mohammed bin Abdullah Elkuwaiz told Reuters.
“We continue to have discussions with the company and its advisers on both their readiness, as well as our regulatory requirements for the market,” Kuwaiz said on Wednesday.
Asked whether there will be any waivers or exemptions for the company’s listing, Kuwaiz told Reuters in an interview that the CMA is “still having those discussions.”
The Kingdom’s stock market regulator typically requires firms offer at least 20% to 30% of their shares when floating.
Aramco, whose chairman Yassir Al-Rumayyan said this week that the IPO would be ready within the next year and preparations were continuing despite Saturday’s attacks on its facilities, is yet to file its prospectus with the Saudi regulator.
“We receive waivers or exemption requests where needed and we review them on a case by case basis,” Kuwaiz said, in reference to those discussions.
Aramco’s primary listing will be on the Saudi stock exchange (Tadawul) in Riyadh, but the government is still considering a secondary listing overseas, Saudi finance minister, Mohammed Al-Jadaan told Reuters in an interview on Wednesday.