High Stakes

Oct 15, 2007 (LBO) – Hutchison Port Holdings (HPH) Monday dismissed claims by a rival bidder to have made the highest bid to build and operate Colombo's planned new container terminal. HPH, one of the world's biggest port operators, said it rejected as "somewhat presumptuous and inaccurate," claims by Sri Lanka's Aitken Spence conglomerate that its bid in partnership with Port of Singapore Authority (PSA Corp) was the highest.

"As far as we know, the evaluation committee has not yet concluded the appraisal of the financial bids," HPH, a subsidiary of the Hutchison Whampoa multinational conglomerate, said in a statement.

"The winner of the bid will be determined by whoever offers the highest guaranteed total financial return on a net present value basis to the Sri Lankan government."

Aitken Spence on Friday claimed that it appeared to have made the highest bid for the new container terminal in Colombo port's expansion project.

The company bid for the project in alliance with Port of Singapore Authority (PSA Corp) which runs the port of Singapore.

"It appears from the opening of the financial proposals of all the bidders, that the consortium of PSA/ Aitken Spen