I don’t have any proof, just reassurances from somebody relatively close to people in the know… the last visit from the Chinese Vice-President was more than what we were told, unsurprisingly
It seems like some sort of documents have already been signed (memorandum of understanding…?!) between the two countries, making the purchase of Coillte by the Chinese much more than a probability. And not just that, it seems like the parties agreed in principle to the selling of other state assets to China.
The size of the deal prompted the visit(s) by one (part of the Vice- President’s ?) Chinese delegation to the American embassy, while the negotiations were taking place last week, to keep relations smooth, and avoid misunderstandings between both.
I didn’t believe the tale till it was pointed out to me the stance of Michael D. Higgins, President of Ireland, speaking in London two days ago. He pretty much called for a referendum over the sale of state assets, out of the blue. Why? Because he found out about the above deal.
Hi I don’t have any proof either other than what my ex has told me ,(london auctioneer),he’s been given the go to buy 10 mill worth of dublin residential property close to town in decent nick by chinese guy in london ,starting end of next week
For what I gather, China has arrive cash in hand and the deal is pretty much done. And that is the difference. The only thing left to the Irish politicians is how the news is going to be delivered to the electorate. Expect a PR campaign. First, it will be only about Coillte. The plan is to hide the real scope of the whole deal till “everybody knows” and it’s too late to reverse anything.
Chants of “Are you the Indo in disguise” to the OP
Hong Kong firm eyes State’s €3bn fire sale of utilities
By JEROME REILLY
Sunday February 26 2012
A major Hong Kong-based company with close links to the Chinese government is interested in acquiring Irish utilities included in the Government’s €3bn fire sale of State assets, the Sunday Independent understands.
Cheung Kong Infrastructure (CKI), whose controlling shareholder is conglomerate Hutchison Whampoa, is interested in acquiring power generation and other utilities in English-speaking countries and has already made significant investments in the UK.
So lets look at the more obvious sales targets
Coillte= lots of trees I dont know enough about forestry but other than building timber possible carbon trading offsets is there a massive level of profit involved
Bord Gais retail arm = a comparitively small indiginous gas Supply company, there are about 600k gas consumers nationally not all of whom are with BGE they are still regulated as far as I know and if so will not be allowed to drop their gas prices until they lose market share just like the ESB were.We sit on an island at the edge of Europe with the potential to have large gas finds which probably could be exported back via the gas Network but that is not what is for sale currently.
AerLingus= 25% stake I think though the slots at Heathrow would be very valuable to China
ESBs"non strategic Power stations. ESB has less than half the generation capacity on the grid, they have already off loaded a lot of stations to Endessa who are or were trying to get rid of them. What ESB has left in general is either very good stuff which they will try might and main not to sell or very bad stuff which they wont be able to sell…OR wind farms and they are doing some interesting things with Wave power.
Might just be me but I dont see any one rushing into buy a lot of this stuff immediately
I know China have bought up alot of forestry in Africa. Can’t really understand why however they have an enormous country surely they can grow as many trees as they need in China. In Tom McGurk column in last weeks SBP he started ranting about land and how important it was to the Irish people in the last two paragraphs, it struck me as very odd and disjointed with the rest of the piece but I wonder if it was a reference to this deal.
You can not take each item separately. If nothing is done ( and that is the reason I believe, of Michael D. getting involved…) most of our energy production, 10% of our land mass, the most important ports and airports, and other strategic assets, will belong to the same entity. Some people have problems with the State taking such a roll in a country, others have problems with private companies having such a control over a society/country. Here, we are talking about the worst of both cases. And taking into account China’s human rights record, the times we live in…
I wonder, can you built a military base, where a forest used to be? Can you “force” a country to allow you to build a military base? Yes, if you controlled the energy sector and the main gateways of such a country, among other “strategic assets”
I take your point javishka but why would the Chinese WANT to buy say BGE assuming there are restrictions put on land use and I heard that things like forest walks will be protected and your only talking the trees is even Coillte that valuable to the “Inscrutable oriental”
When you “control” a country, you can “influence” the legislation of that country…
A Dail/Government in the hands of greedy, short sighted, corrupt politicians of a bankrupt State… History is full of cases like these.
Look where we are in the Globe; North Atlantic, beside the UK, part of western Europe, and not that far from the US, perfect “unsinkable aircraft carrier” for a Pacific based country
I really can’t see how China would be allowed to built military bases in this country, it is simply inconceivable. From a military point of view we are situated at the heart of NATO, I think there would be war if this was ever contemplated.