Unable to finance the construction of the roughly US$1b Amaila Falls Hydropower Project (AFHP), China Railway Group Limited (CRGL) has written to the government requesting that it consider a different model of financing and this may now require re-tendering for the controversy-ridden project.
Speaking on the negotiations between the company and government, Vice President Bharrat Jagdeo yesterday told a press conference that CRGL had advised that they are “having a hard time doing the BOOT (Build, Own, Operate and Transfer) Contract and they want to shift to an EPC (Engineering, Procurement and Construction) plus financing, where the government finances the project and they will be the contractors.”