Citic Pacific’s Sino Iron venture will live for ever – as a textbook study of inexperienced management meeting Murphy’s law. The project, in Australia’s Pilbara region, has already exceeded its budget five times over. It is finally shipping ore, admittedly, and is setting a new standard of openness for Chinese state-owned groups by talking about what went wrong. But when $10bn has been sunk into a very big hole, perseverance and openness are not so much virtues as necessities.
中信泰富(Citic Pacific)的中澳铁矿项目(Sino Iron),将成为经验不足的管理层遭遇“墨菲定律”(任何有可能发生的坏事,总会发生——译者注)的一个经典案例。该项目位于澳大利亚皮尔巴拉(Pilbara)地区,目前其实际投资已经超出预算的5倍。诚然,该项目终于开始产矿了,而且管理层也开始检讨问题所在,在透明度上为manbetx3.0 国有企业罕见。但是,当100亿美元被扔进无底洞的时候,坚持和透明就是次要问题了。