China’s CCECC Underbids Competition in Bid to Renovate Property for the National Bank of Vanuatu

On October 9, 2020, China Civil Engineering Construction Corporation (CCECCemerged as the lowest of four bidders, at $8.4 million, on a tender issued by the Vanuatu National Provident Fund (VNPF) for the renovation of the former Club Vanuatu property in Port Vila.  The bid, which reportedly came in much lower than the other three submissions (the three other bidder made offers of more than $8.8 million), appears to have won CCECC the contract.  Once completed the building will be used by the National Bank of Vanuatu, the country’s largest commercial lender.