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Chinese Company Received LOI For Port Highway Project

Infra News - Published on Tue, 18 Jun 2019

Image Source: google.com
Sunday Times reported that the Chinese company that recently received a letter of intent from the Road Development Authority to carry out civil works related to the Asian Development Bank funded port access elevated highway project has been debarred by the World Bank. The WB announced a 9 month debarment of China Railway Construction Corporation Ltd, its wholly owned subsidiaries and 730 controlled affiliates. One of these is China Civil Engineering Construction Corporation which in May received a letter of intent for the RDA’s highway project after becoming the “lowest evaluated substantially responsive bidder”. The cost of the civil works is estimated at INR 28 billion.

The multilateral agency statement said that the WB action is in connection with misconduct under the East-West Highway Corridor Improvement Project in Georgia. The three companies directly affected are China Railway Construction Corporation Ltd and its wholly-owned subsidiaries, China Railway 23rd Bureau Group Co Ltd and China Railway Construction Corporation International Limited. The debarment is part of a settlement agreement with the relevant parent companies related to misconduct during the procurement process for a highway construction contract.

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Posted By : Mohan Sharma on Tue, 18 Jun 2019
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