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Wed Apr 10, 2013, 07:44 PM

 

China Railway Group's project in Venezuela hits snag

The Venezuelan government owes China Railway US$400 million to US$500 million, said Li Changjin, the chairman of China Railway, which is listed in Hong Kong and Shanghai.

"The reason is the Venezuelan government has no money," Li said. "We are in talks with the government."

Owing to the funding crunch, the 475.1km railway, originally scheduled to be completed next year, would be delayed, he said. "They are short of funds, so we stopped work."

http://www.scmp.com/business/china-business/article/1211846/china-railway-groups-project-venezuela-hits-snag

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Reply China Railway Group's project in Venezuela hits snag (Original post)
naaman fletcher Apr 2013 OP
madrchsod Apr 2013 #1

Response to naaman fletcher (Original post)

Wed Apr 10, 2013, 08:37 PM

1. opps....china should have done their homework.

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