EWI post 1% bid bond, so are we now in the clear ?

I have been on record of saying EWI would not have had a problem finding the bid bond, they had enough cash on hand to deal with that. My concern was whether or not EWI will be able to finance this massive project. I am also on record of suggesting that EWI had to get this project for reasons I had mentioned earlier .

The big question for me is how does EWI/EWC plan to finance this project. Given the controversy surrounding this project, I do not see the IDB or world bank lending any money to EWC, which leaves only the China Exim bank , as no one else has enough money to undertake such a project. The other worrying issue for me is EWI has never undertaken such a massive project in its over 30 yr history and given its track record of delays and cost overrun, can EWI really deliver.

 

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: