Negotiations are now underway with a Chinese consortium for the construction of the new Demerara River bridge after the financing terms for the number one bidder were found to be too onerous.
Government is currently in discussion with the second-ranked bidder, China Railway Construction Corporation (International) Limited in a Joint Venture with China Railway Construction (Caribbean) Company Limited and China Railway Construction Bridge Engineering Bureau Group Company Limited.
Minister of Public Works, Juan Edghill yesterday told Stabroek News that government was forced to terminate negotiations with China State Construction Engineering Corporation (CSCEC), which had received cabinet’s No Objection, after their financers were no longer willing to support the venture.
