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Brazilian firm wins big contract.

BRAZILIAN FIRM WINS BIG CONTRACT. Brazil's Constructora OAS has been awarded the construction contract for the San Fernando to Point Fortin highway, estimated to cost TT$7.2 billion (US$1.14 billion), TT$2 billon more than the original cost, reports the Trinidad Guardian (Jan. 26, 2011). Works & Transport Minister Jack Warner said "Within the agreement we have stated that the contractor must use a minimum of 40% local labor." He said the project would be done in four phases over four years. In trying to justify the extra cost on the project, Warner explained it was not due to cost overruns, but the result of acquisition costs and fees.
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Title Annotation:TRINIDAD & TOBAGO
Publication:Caribbean Update
Date:Mar 1, 2011
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