10th January 2012, www.lankabusinessonline.com
China Merchants is already the dominant partner a 55 percent stake and the SLPA has a 15 percent stake.
Sources familiar with the deal said Aitken Spence was forced to pull out because a 350 million dollar loan from China Development Bank fell through at the last minute requiring additional funding from consortium partners.
CDB had asked for tight conditions including a Sri Lanka government guarantee, which was unavailable, the source said.
The construction contract of the port went to China Harbour Engineering Company, also a Chinese state run firm.
Aitken Spence stock closed up 115.00 rupees up 80 cents Wednesday.
Related Info :
• Colombo South Container Terminal. SLPA Signs PPP BOT Project with China Merchant International Holding, Aitken Spence Consortium
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