"Private projects such as this often come in on time and under budget."
Really???
Angang Steel's stake in the Karara iron ore project have run into problems that have delayed output and sent costs throught the roof.
The Sino Iron project is a prime example of cost blowouts. The budget has more than doubled to $US6.2 billion ($5.9 billion) over the past five years due to a labour shortage, higher prices for equipment and construction materials and an expansion of the project. First production now targeted for late 2012, two years later than first planned.
Sorry, but I just don't agree with the throw away line.
FD
"Private projects such as this often come in on time and under...
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