citic, page-6

The payment of the Contract Sum depends on the progress of the Works to be completed. As it is anticipated that initial production will commence in 2009, a substantial part of the Works shall be performed in the first three years of the contract term. The estimated annual caps on the Contract Sum payable for the five financial years ending 31 December 2011 are as follows:
Annual cap
Financial year ending
Percentage of Contract Sum
US$ (million)
31 December 2007
30%
525
31 December 2008
40%
700
31 December 2009
40%
700
31 December 2010
25%
437.5
31 December 2011
20%