“Under the proposal for New Daru City, the potential deal would be predicated on an agreed Sovereign Guarantee based on a long-term BOT [Build Operate Transfer] contract. This means the Communist Party-backed firm would have total ownership of the venture for a designated period of time yet to be determined,” the Daily Mail notes.
A Chinese company proposed a nearly $40 billion project to construct an island less than 150 miles away from the northern tip of Australia.
It’s “likely to make Australian national security analysts nervous,” the Daily Mail notes given the island’s proximity to Australia:
The proposal, revealed via leaked documents, would lead to a city constructed by Chinese Communist Party-backed WYW Holding Limited on Daru Island in Papua New Guinea.
The island would include a seaport, industrial zone, commercial business precinct as well as resorts and residential sectors.