The Government intends using the proceeds of a loan from the European Bank for Reconstruction and Development towards the cost of facilitating the restructuring and privatisation of the terminal.

The main objective of the assignment shall be:

1. Develop a financial strategy for the sale of CGCO, to include inter alia:
I. Verification of CGCO’s existing financial position
II. Preparation of documentation on the future financial position of CGCO in a form which could be released, without liability, to potential investors
III. High level review of the Government’s overall strategy for privatising CGCO, including identification of any legal, financial or institutional obstacles which could affect the chances of successful implementation, and recommendation of any necessary changes in the Government’s approach to CGCO’s privatisation

2. Assistance with the process of privatization of CGCO:
I. Finalisation of tender documentation
II. Assistance with issuing the request for expressions of interest
III. Assistance with the prequalification of bidders
IV. Assistance with bidder interaction
V. Assistance with evaluation of bids
VI. Assistance with the negotiations between the company and final bidders

A substantial amount of preparatory work and documentation has already been concluded by the Ministry of Transport.  The Ministry is preparing a new set of tender documents, which it will review and revise again once the financial strategy for the privatisation of CGCO has been completed, with the assistance of the consultant.

The consultant’s team is expected to be headed by an experienced financial advisor who has worked previously on privatisation and corporate finance issues.  It should also include a legal adviser and a transport economist with experience of privatisation issues. The consultant’s team will be assisted by one or more counterpart staff drawn from CGCO and the Ministry of Transport.

The assignment is expected to start at the end of Q2 2011 and last between 12 and 18 months.

The budget for the assignment, which will be financed from the proceeds of the loan, is EUR 290,000. Consulting firms from any country are eligible for short listing and selection.

In order to determine the capability and experience of consulting firms seeking to be shortlisted, the information submitted shall include the following:

· Company profile, organisation and staffing

· Details of experience or similar assignments undertaken in the previous five years, inclusive of project title; location; contractual role of the firm; the presence of any affiliate or parent companies and their respective roles; start and completion dates; value; name of the Client; funding source; objectives and brief narrative description of the project, functions and tasks carried out, including applicable national and/or international codes and standards

· CVs of staff who could be available to work on the assignment.

If a firm considers it does not possess all the required expertise for the assignment, it may consider forming a joint venture partnership with other firms. In such cases the Expression of Interest should provide the aforementioned details for each partner and an indication which firm is the lead partner.

The cargo, which consisted of two transformers and an electric unit, were shipped by DHL Global Forwarding Poland for delivery to Russia.  Photo shows the new MHC lifting the transformer.  BCT early on realized the need for a ship-to-shore handling equipment which could handle project cargo of up to 100 tons.  With the acquisition of the MHC, BCT is now ready to service heavy and oversized cargo using the equipment.  BCT is a subsidiary of ICTSI, a leading port management company involved in the operations and development of 21 marine terminals and port projects in 15 countries worldwide.

Siemens and Associated British Ports (ABP) have announced today (20 January) that they have signed a Memorandum of Understanding in connection with ABP’s proposed Green Port Hull development at Alexandra Dock, Port of Hull. The parties have agreed to work together to develop plans for the construction of a new Siemens offshore wind turbine manufacturing and export facility at the Port with the aim of executing definitive agreements in 2011.

The new office’s opening has also been greeted by the acquisition of two new orders from China Steel Sumikin Vietnam: Tenova Key Technologies’, the Austrian company part of the Tenova Group, has been awarded the order for a turnkey plant for acid regeneration and removal of silicon dioxide from the baths on a hydrochloric acid pickling line, installed at the cold rolling mill complex of China Steel Sumikin Vietnam, a joint venture between Taiwan’s China Steel Corp. and Japan’s Sumitomo. For the same customer and at the same facility, located in the Phu My district (Ho Chi Minh City), Pomini Tenova will supply a complete Roll Shop which includes three CNC Roll grinders complete with automatic loaders and Roll Shop Management System. Pomini Tenova continued the excellent collaboration with Posco by finalizing a new contract with Posco VST-Vietnam for the supply of four grinding machines to be installed on the new Stainless Steel Cold Rolling Mill, where Tenova I2S supplied a 20 Hi Cluster Mill complete with automation and control system.

Tenova boasts a well rooted activity in Vietnamese market: another important order has been awarded last year to Tenova Melt Shops for the supply of a new Melt Shop unit with a Consteel®-EAF for Pomina and Thep Viet Steel Group. This unit, having 120 ton tapping size and capable to produce over 1.000.000 ton per year of liquid steel, will be the largest melt shop in Vietnam for long products. Furthermore Key Technologies, Strip Processing and I2S all part of the Tenova Group, obtained orders for an Acid Regeneration Plant at Lotus Steel for an environmental friendly pickling process, a Recoiling Line with Tension Leveler at Thong Nhat (part of Vietnam Steel Group)

The excellent result confirms the importance of Tenova’s decision to increase its presence into this rapidly expanding market.