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The main financier at the table is KfW IPEX, who finance...

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Morry

1,684 Posts.

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13/08/21

12:20

Post #: 55264713
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Originally posted by Dollarsandsense: ↑

The only thing that really concerns me is this isn't the approach taken from the very beginning?

Why would we lump an entire contract with SMS? I understand this is their intellectual property but at the end of the day, they're in Germany. We have Australian businesses that can build it (and would build it but under the SMS banner).

This is much more suited to SMS being in charge of designs, have a local engineering firm build it and include SMS as a a consultant or the Superintendent on the build. That way they only need to fly 1 or 2 representatives over (perhaps only even periodically) to oversee the works.

Having SMS as head contractor was fraught with danger and no financier is backing that in the current covid climate.

I would think SMS have definitely given TNG the heads up that economically it wouldn't stack up. I doubt there's been anything more than a informal note along the lines of "we'll be over your budget....".

Logistically for them they wouldn't want resources stretched far and wide.

This is a good step in the right direction.

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The main financier at the table is KfW IPEX, who finance projects that create German jobs.
The more jobs we created in Germany, the more they'd be interested in financing.

TNG Price at posting: 9.0¢ Sentiment: Hold Disclosure: Held
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