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| Sithe Global, the developers of the Amaila Falls Hydro Project,Wholesale Authentic Jerseys, say they are looking forward to an “open dialogue” with Parliamentarians and other interested parties in Guyana as they look to seek to close financing.The company has failed to meet earlier estimates of closing financing as the cost for the project mounts. Sithe Global was aiming to meet financial closure at the end of last year.The government had originally said that it was looking to the Inter-American Development Bank (IDB) and the China Development Bank to be the major financiers of the project.This week,Wholesale Jerseys, Sithe Global told Kaieteur News that it continues to work on finalizing the Engineering, Procurement and Construction (EPC) contract and financing plan, including ongoing discussions with lenders.In October, former President Bharrat Jagdeo put the cost of financing the hydro project at US$835 million.According to Amaila Falls Hydro Incorporated (AFH), the company overseeing the project, the cost estimate of US$835M is based on a final EPC price from China Railway,Wholesale Jerseys, which has been identified as the firm that will construct the project.According to AFH, that cost estimate also includes all associated financing costs, non-EPC construction costs and project development costs”The company insists that the project remains fundamentally strong because “it is the lowest cost option for Guyana Power and Light (GPL).”On Thursday,Cheap China Jerseys, the Guyana Government cancelled a $15.4 million contract to build a road leading to the site where the multi-million dollar hydro-power project is slated to be constructed.The government moved to seize the assets of the American firm, Synergy Holdings Incorporated,Cheap NFL Football Jerseys, and to have it pay liquidated damages of US$120,000.As of December,Cheap Jerseys, 2011, Synergy Holdings had completed only 40 per cent of the works despite repeated urgings and interventions from the Project Engineer and the Consulting Firm to have the project completed.Synergy Holdings was given the contract in March 2010. |
