LOCAL contractors are calling on the Government to disclose the financial terms offered by China Gezhouba Group International Engineering Company Ltd (CGGC) that resulted in it being awarded a contract worth billions of dollars to construct a total of 5,000 housing units throughout Trinidad.

In a statement on Monday evening, two days after a heated debate at the Contractors Association (TTCA) annual meeting, on the issue of the housing contract, the body called for immediate discussions with the Government and financial institutions to facilitate a model that would allow locals to build houses for the Housing Development Corporation in the future.

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GOVERNMENT could be forced to make a termination payment of up to an estimated US$43 million to the China Gezhouba Group International Engineering Co Ltd (CGGC) for the cancellation of its contract with the Housing Development Corporation (HDC), according to Express Business calculations based on local high-rise apartment construction costs and profit projections.

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