Hon. Philip “Brave” Davis M.P.
Deputy Leader of The Progressive Liberal Party
HOW MUCH FOR SEVEN MILES OF AIRPORT HIGHWAY?
The Tribune of 4th October 2010 reported “The prime minister formally signed agreements for the $70.8 million highway project with two China State Companies; the China Export Import Bank and the China Construction Company on Thursday at the British Colonial Hilton” referring to the signings on the previous Thursday, 30th September 2010.
Since the government decided to give a contract to a foreign state owned construction company to build some seven miles of highway from the airport to the roundabout at Farrington Road, Thompson Blvd, and JFK Drive at some $71Million after passing a resolution in the House of Assembly the day before to borrow $58Million from the foreign state owned China Export-Import Bank I have tried to understand what Citizens of The Bahamas were getting for our investment of @ $10,000,000 (TEN MILLION DOLLARS) PER MILE OF ROAD!!!!
Minister Zhivargo Laing said during the debate on the government’s resolution for the loan from the Chinese Export-Import Bank, in the House of Assembly that the government HAD to use the Chinese state owned China Construction company to build the road BECAUSE we are borrowing $58,000,000 from the Chinese government owned bank at a very low interest rate.
In the House of Assembly and at the subsequent press conference for the contract signing, a lot of colourful renderings were shown.
I went to the government’s website and the Works & Transport Ministry’s website in search of the airport highway description in the hope that I could begin to fathom WHY seven miles of a four lane highway with utilities being placed underground, government acquired private land (I presume), and, landscaping along the highway, should cost $10,000,000 per mile. The government has not yet put the information online.
In the absence of information to the contrary, I concluded that the same road contractors hired by the government to build the road are the people who designed the road and calculated the cost of the works to be done. There has been no competitive bid on this massive expenditure. How does the Bahamian tax payer know that she or he is getting value for money? If we are overpaying to build the road then the low interest rate has no real value. Maybe Minister Laing would kindly explain this?
Further, even if the work that is to be done really does cost $10,000,000 per mile for a total of $71,000,000, what were the alternatives considered by the government? Do we need to spend $71,000,000 to build seven miles of landscaped road way from the airport to Farrington Road? How is the Bahamian public to receive benefit for their investment?
I call on those Bahamians with the technical and financial backgrounds to guide us on a full appreciation of this matter to weigh in on the issue.
The government is not supposed to be the overlord but, rather, it should be the servant of the People answerable to the People.
14th October, 2010
myplp.com
A political blog about Bahamian politics in The Bahamas, Bahamian Politicans - and the entire Bahamas political lot. Bahamian Blogger Dennis Dames keeps you updated on the political news and views throughout the islands of The Bahamas without fear or favor. Bahamian Politicians and the Bahamian Political Arena: Updates one Post at a time on Bahamas Politics and Bahamas Politicans; and their local, regional and international policies and perspectives.
Showing posts with label China Export Import Bank. Show all posts
Showing posts with label China Export Import Bank. Show all posts
Sunday, October 17, 2010
Wednesday, October 13, 2010
Prime Minister Hubert Ingraham will personally discuss aspects of the proposed Baha Mar project which continue to be of "concern" to his Government - during his upcoming trip to China
Baha Mar on PM's China trip agenda
By TANEKA THOMPSON
Tribune Staff Reporter
tthompson@tribunemedia.net
PRIME Minister Hubert Ingraham, in an interview with The Tribune, said he intends to personally discuss aspects of the proposed Baha Mar project, which continues to be of "concern" to his Government, when he meets with the leaders of the China State Construction Company and the China Export Import Bank during his trip to China next week.
Mr Ingraham gave details of this considerably important visit and the issues he hopes to discuss with several companies and the government of the People's Republic of China.
The Prime Minister will also meet with high level officials from Hutchison Whampoa and the Chinese Government to discuss, among other things, the future of Hutchison's hotel properties in Grand Bahama, the National Stadium and the Gateway Road Corridor.
Mr Ingraham's hectic schedule begins when he leaves the country on October 22. His proposed itinerary reads like a list of some of the most economically vital and controversial issues facing the country today.
It seems almost fitting that it is Mr Ingraham who is sitting at the helm of the nation's business while the government has to deal with the eminent completion of the National Stadium, the construction of the Gateway Road Corridor and the proposed multi-billion dollar Baha Mar project, as it was under his leadership that the Bahamas established diplomatic relations with Beijing in 1997.
The prime minister has publicly expressed concern over what he considers some of the more vexatious aspects of the Baha Mar deal.
He proposes to take advantage of his visit to China to meet with the leadership of the China State Construction Company and the China Export Import Bank to discuss "aspects of the proposed Baha Mar project construction terms which continue to be of concern" to his government.
Mr Ingraham will also meet with the leaders of Hutchison Whampoa - Deputy Chairman of Hutchison Whampoa Vincent Li and Raymond Chow, head of Hutchison's Hotel Division. While all of Hutchison's operations in The Bahamas will be discussed, uppermost on his agenda will be the future of Hutchison's hotel properties in Grand Bahama.
Hotels
"As you are aware those hotels continue to operate at a loss and to be supported by direct funding from Hong Kong," the prime minister said.
When Mr Ingraham visits Beijing, he is expected to call on a number of senior officials in the Government of the People's Republic of China to discuss matters of mutual interest and concern.
These will include the National Stadium, the Gateway Road Corridor, the Bahamas' interest in training and transfer of skills connected to the engagement of significant numbers of Chinese construction experts on projects in The Bahamas; cooperation on matters arising from climate change and disaster relief initiatives, agriculture, clean energy (solar and wind) and IT, increased tourism flow and other general bilateral relations, including China-CARICOM relations. The prime minister is travelling to China this year at the invitation of the Government of China. It is an invitation that he has had to delay on at least two occasions due to pressing national matters and other scheduling conflicts.
"Originally I had proposed to visit China during the last Olympiad. Subsequently, I signalled my intention to attend the opening ceremonies of the Shanghai Expo earlier this year. As it turns out, it will be the closing ceremony of the Expo that I will attend," Mr Ingraham said.
He is also expected to meet with Chinese officials, including Chairman Wu Bangguo and Vice-Premier Hui Liangyu both of whom have visited The Bahamas recently.
On his way to China, Mr Ingraham will spend a full day in Hong Kong where he will participate in the official opening of a new Bahamas Maritime Authority office and attend a reception, hosted by the BMA for a cross section of potential investors in The Bahamas - maritime, financial services and tourism in particular.
"I believe that we have excellent relations with the People's Republic of China. The importance that my Government places on this relationship is demonstrated by our appointment of a former non-portfolio Cabinet Minister to head our Diplomatic Mission in Beijing. Ambassador (Elma) Campbell is the first resident Bahamian Ambassador appointed to Beijing.
Diplomatic
"It was under my party's leadership that The Bahamas ended diplomatic relations with the Republic of China (Taiwan) and in recognition of our support for the One China policy, established diplomatic relations with Beijing in 1997," Mr Ingraham said.
Mr Ingraham acknowledged that China has been a generous friend to The Bahamas whether in response to hurricanes, in offering technical and language training scholarships to Bahamian nationals, in gifting the National Stadium, or in supporting the Bahamas' recent efforts to overcome the challenges from the OECD regarding the country's financial services sector and the conclusion of TIEAs with OECD and G20 countries.
China has set aside the sum of $1 billion for soft loans to Caricom countries. Of that sum, some 15 per cent, i.e. $150 million, has been earmarked for lending to The Bahamas.
Mr Ingraham said that the extent to which the Bahamas might identify other suitable projects that fall within the quota set for The Bahamas, will be determined at a later date. The House of Assembly recently approved a resolution for the government to borrow nearly $58 million from the China Export-Import Bank to construct a four-lane airport highway. The project will mean the grant of 200 work permits for Chinese labourers, but also a very low interest rate for the loan. "The Bahamas very much appreciates that in an international environment where soft or concessional loans for infrastructure development is increasingly scarce for middle income countries like the Bahamas, the willingness of the Chinese Government to extend such low interest loans to us," the prime minister said.
This will be Mr Ingraham's second visit to the People's Republic of China. Mr Ingraham first visited China in 2000.
October 12, 2010
tribune242
By TANEKA THOMPSON
Tribune Staff Reporter
tthompson@tribunemedia.net
PRIME Minister Hubert Ingraham, in an interview with The Tribune, said he intends to personally discuss aspects of the proposed Baha Mar project, which continues to be of "concern" to his Government, when he meets with the leaders of the China State Construction Company and the China Export Import Bank during his trip to China next week.
Mr Ingraham gave details of this considerably important visit and the issues he hopes to discuss with several companies and the government of the People's Republic of China.
The Prime Minister will also meet with high level officials from Hutchison Whampoa and the Chinese Government to discuss, among other things, the future of Hutchison's hotel properties in Grand Bahama, the National Stadium and the Gateway Road Corridor.
Mr Ingraham's hectic schedule begins when he leaves the country on October 22. His proposed itinerary reads like a list of some of the most economically vital and controversial issues facing the country today.
It seems almost fitting that it is Mr Ingraham who is sitting at the helm of the nation's business while the government has to deal with the eminent completion of the National Stadium, the construction of the Gateway Road Corridor and the proposed multi-billion dollar Baha Mar project, as it was under his leadership that the Bahamas established diplomatic relations with Beijing in 1997.
The prime minister has publicly expressed concern over what he considers some of the more vexatious aspects of the Baha Mar deal.
He proposes to take advantage of his visit to China to meet with the leadership of the China State Construction Company and the China Export Import Bank to discuss "aspects of the proposed Baha Mar project construction terms which continue to be of concern" to his government.
Mr Ingraham will also meet with the leaders of Hutchison Whampoa - Deputy Chairman of Hutchison Whampoa Vincent Li and Raymond Chow, head of Hutchison's Hotel Division. While all of Hutchison's operations in The Bahamas will be discussed, uppermost on his agenda will be the future of Hutchison's hotel properties in Grand Bahama.
Hotels
"As you are aware those hotels continue to operate at a loss and to be supported by direct funding from Hong Kong," the prime minister said.
When Mr Ingraham visits Beijing, he is expected to call on a number of senior officials in the Government of the People's Republic of China to discuss matters of mutual interest and concern.
These will include the National Stadium, the Gateway Road Corridor, the Bahamas' interest in training and transfer of skills connected to the engagement of significant numbers of Chinese construction experts on projects in The Bahamas; cooperation on matters arising from climate change and disaster relief initiatives, agriculture, clean energy (solar and wind) and IT, increased tourism flow and other general bilateral relations, including China-CARICOM relations. The prime minister is travelling to China this year at the invitation of the Government of China. It is an invitation that he has had to delay on at least two occasions due to pressing national matters and other scheduling conflicts.
"Originally I had proposed to visit China during the last Olympiad. Subsequently, I signalled my intention to attend the opening ceremonies of the Shanghai Expo earlier this year. As it turns out, it will be the closing ceremony of the Expo that I will attend," Mr Ingraham said.
He is also expected to meet with Chinese officials, including Chairman Wu Bangguo and Vice-Premier Hui Liangyu both of whom have visited The Bahamas recently.
On his way to China, Mr Ingraham will spend a full day in Hong Kong where he will participate in the official opening of a new Bahamas Maritime Authority office and attend a reception, hosted by the BMA for a cross section of potential investors in The Bahamas - maritime, financial services and tourism in particular.
"I believe that we have excellent relations with the People's Republic of China. The importance that my Government places on this relationship is demonstrated by our appointment of a former non-portfolio Cabinet Minister to head our Diplomatic Mission in Beijing. Ambassador (Elma) Campbell is the first resident Bahamian Ambassador appointed to Beijing.
Diplomatic
"It was under my party's leadership that The Bahamas ended diplomatic relations with the Republic of China (Taiwan) and in recognition of our support for the One China policy, established diplomatic relations with Beijing in 1997," Mr Ingraham said.
Mr Ingraham acknowledged that China has been a generous friend to The Bahamas whether in response to hurricanes, in offering technical and language training scholarships to Bahamian nationals, in gifting the National Stadium, or in supporting the Bahamas' recent efforts to overcome the challenges from the OECD regarding the country's financial services sector and the conclusion of TIEAs with OECD and G20 countries.
China has set aside the sum of $1 billion for soft loans to Caricom countries. Of that sum, some 15 per cent, i.e. $150 million, has been earmarked for lending to The Bahamas.
Mr Ingraham said that the extent to which the Bahamas might identify other suitable projects that fall within the quota set for The Bahamas, will be determined at a later date. The House of Assembly recently approved a resolution for the government to borrow nearly $58 million from the China Export-Import Bank to construct a four-lane airport highway. The project will mean the grant of 200 work permits for Chinese labourers, but also a very low interest rate for the loan. "The Bahamas very much appreciates that in an international environment where soft or concessional loans for infrastructure development is increasingly scarce for middle income countries like the Bahamas, the willingness of the Chinese Government to extend such low interest loans to us," the prime minister said.
This will be Mr Ingraham's second visit to the People's Republic of China. Mr Ingraham first visited China in 2000.
October 12, 2010
tribune242
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