Hi Taboon, you may want to watch this video and pay attention to the last half especially to the last 10 seconds.
So, CGGC at the 11th hour wants better IO plice ?
CGGC as the builder (not the owner of a BOOT) to be paid by an EXIM loan (for which Cameroon raised the national debt ceiling by $3.5 Billion after Philomen Yang's Beijing visit) want to sign a contract only when IO price has improved (just when China really need the extra supply on the market). Charming.
http://www.businessincameroon.com/p...roon-raises-debt-ceiling-to-1-7-trillion-fcfa
Cameroon’s debt ceiling will rise from 900 billion FCFA in February to 1.7 trillion FCFA in August, which is an increase of 90%. This second increase is due to the decision recently taken by the government to finance the contruction of the Mbalam-Kribi railway and the Kribi deep water port wharf within the development framework of the Mbalam-Nabeba iron mining project. This infrastructure involves from 1.5 to 2 trillion FCFA raised primarily from China.
Why didn't CGGC insist on higher IO plice in November as they finalized the contract negotiations with Cameroon...you know just before the doc ended up on "that desk".
BTW, CGGC has so far said NOTHING to the market about an indefinite deferral of what is argubaly one of China's and the company most strategic infrastructure project in African.
http://www.chinadaily.com.cn/m/gezhouba/2015-09/09/content_21831112.htm
http://www.chinadaily.com.cn/m/gezhouba/2015-08/21/content_21667992.htm
Cheers
