China Harbour Engineering Company’s parent company, and all its subsidiaries (including its PNG subsidiaries), have been blacklisted until 12/1/2017 by the World Bank for all contracts related to roads and bridges, owing to “fraudulent practices. Thus ends their bid to build Line 2 of the Metro system in Panama. This story reminds me of a tale by a friend of mine who traveled to China on behalf of a major jet engine manufacturer to look at a jet plane factory. He arrived and saw men busy assembling wings and fuselage parts. When he asked a local how long the plant has been in business, the guy says, that is a bicycle plant and the show was put on for you, hah!
China Harbour Engineering Company, one of the bidders in the tender for Line 2 of the Panama Metro and a contractor for road works in Costa Rica, is ineligible to participate in projects financed by the World Bank.
Given the criticisms over its main involvement (60%) in one of the consortia which submitted bids for the construction of the Panama Metro Line 2, a spokesperson for China Harbour Engineering Company (CHEC) Latin America argued that “.. . The temporary disqualification applied by the World Bank to the holding company China Communications and Construction Company (CCCC) does not affect its ability to receive funds from the lender “… “Under the sanction, CCCC is ineligible to participate in any road and bridge project funded by the World Bank group until January 12, 2017.”
Corina Briseño, project director for CHEC Latin America warned that “… The World Bank does not make any reference to railway projects … ” noting that ” … the suspension comes as collateral for another company (China Roads and Bridges Corporation), which CCCC bought and has nothing to do with CHEC “.
CHEC has already secured in Costa Rica a $485 million contract for the redevelopment of a major highway. This contract is tied to an agreement between the Chinese and Costa Rican governments to finance the project, which has already received parliamentary approval.
Source: Prensa.com