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Hopewell denies cancellation of Bangkok transit project

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Hopewell Holdings yesterday denied that its $25 billion contract to build an overhead road and rail scheme in Bangkok had been scrapped by the Thai Government.

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The company's chairman and managing director, Sir Gordon Wu Ying-sheung, issued the denial, while attempting to 'clarify the company's position'.

'No notice of any kind regarding the project has been received from the Thai Government,' he said.

His comments add to the confusion that surrounds the future of the Bangkok Elevated Road and Train System (BERTS) following a statement last week by Thai Transport Minister Suwat Liptapallop that the project would be scrapped.

'The government has reason enough to cancel the contract, because the construction is slow,' Mr Suwat said, conveying a decision reached at a cabinet meeting.

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'The contract is for eight years. Now it is the seventh year and only 12 per cent is completed.' Sir Gordon was adamant the project had not been 'scrapped', 'terminated' or 'cancelled'.

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