Instead, the report itself admits that by the time a detailed design has been sketched out and the bidding process finished, actual construction of the store may not start until at least 2035.

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But, as attention has focused on accounting standards, concerns have been raised in particular about how support services firms treat the large costs run up bidding for public private partnership contracts, such as hospital construction projects.

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Vale was part of the losing bidding team in 2010 with privately held energy company NeoEnergia and construction firm Andrade Gutierrez, among others.

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However, before starting the works, the giant oil company must complete a long bidding process to select who will be in charge of the construction of projects.

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Spokesmen for the construction industry say that their members were merely a bit dim and trying to be polite by bidding.

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