DESPITE the government’s return to Beijing, Baha Mar developer Sarkis Izmirlian is seeking to strike a deal with its Chinese lender to cut the resort’s general contractor, China Construction America, out of negotiations and use Bahamian contractors to complete the project, according to a letter sent to Export-Import Bank of China obtained by The Tribune.
Accusing CCA of backtracking on negotiations and holding the resort “hostage”, Mr Izmirlian insisted that the only way to successfully complete the $3.5bn resort was to end discussions with the general contractor and enter into a 50-50 agreement with the Export Import Bank of China to fund the $400m needed to finish construction and open the resort...
DESPITE the government’s return to Beijing, Baha Mar developer Sarkis Izmirlian is seeking to strike a deal with its Chinese lender to cut the resort’s general contractor, China Construction America, out of negotiations and use Bahamian contractors to complete the project, according to a letter sent to Export-Import Bank of China obtained by The Tribune.
Accusing CCA of backtracking on negotiations and holding the resort “hostage”, Mr Izmirlian insisted that the only way to successfully complete the $3.5bn resort was to end discussions with the general contractor and enter into a 50-50 agreement with the Export Import Bank of China to fund the $400m needed to finish construction and open the resort...
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