[quote:07fc73532e="aaron"]An entrepreneur who claimed he could raise billions of dollars to develop Zanzibar's Nungwi Peninsula into a tourist haven, may have lost his lucrative land offer. Mr Thomas Wells, who was to develop 47 square kilometres north of Zanzibar, has failed to show up since the end of 1997. He has not communicated with the Isles government on his plans to implement the ambitious investment venture, estimated to cost $4 billion. The Zanzibar government spokesman, Mr Hafidh Ali, told The EastAfrican last week that Mr Wells "has not been back to Zanzibar since he left." He left Zanzibar at the end of 1997 promising to return early in 1998. Mr Ali said the government of Zanzibar has not given Mr Wells the Nungwi peninsula, apparently reversing a generous offer to the investor. Mr Wells' East African Development Company (EADC) had been offered the land at a token $1 (Tsh710) annual lease for 49 years starting on September 1, 1997.

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