When the MMX/Japenese consortium got the contract to build Oakagee ahead of the Chinese backed "Yilgarn group" Colin Barnett was in opposition. He spewed very publicly again and again about how wrong it was and insult to one of our greatest trading partners for them not to be involved in the infrastucture.
Now he is premier he is getting the ball rolling again and would not be supprised if it swings back the chinese way.
If only they had gone this way instead of the messs we have that the labour party organised through half assed committees. R&R
Excerpt from the Australian Business review October 2007
WE ARE STILL NO CLOSER !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Earlier last month in Perth, in ceremonies witnessed by Chinese and West Australian government officials, Yilgarn signed investment agreements to underpin the equity required for the infrastructure development, which involves five Chinese companies. The group, with combined assets of more than $US50 billion ($56 billion) and revenues of more than $US60 billion, includes some of China's biggest enterprises in port and railway construction, railway operations, iron ore trading and steel production. Yilgarn's backers are China Railway Materials Commercial Corp, Sinosteel, Anshan Iron & Steel Group, China Railway Engineering Corp and China Communications Construction Corp.
The companies have key links into China's leadership group.
Dr Saunders said yesterday that subject to environmental and other government approvals, Yilgarn was on track to begin construction late next year for project completion in 2011.
GBG Price at posting:
$1.09 Sentiment: Hold Disclosure: Held
