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SCTEX bidders given until January 4 to submit proposals
Author: BCDA
Posted: December 03, 2009 | Category: SCTEX
The Bases Conversion and Development Authority (BCDA) recently extended the deadline for submission of the bid to operate, manage and maintain the Subic-Clark-Tarlac Expressway (SCTEX) one month from the original deadline.
BCDA vice president & chief finance officer Victor V. Zablan said the last day of submission of entries was extended from December 4, 2009 to January 4, 2010, to give the six participating companies more time to prepare their bids.
The BCDA announced the revised timetable of activities to the six bidders—namely, the Metro Pacific Tollways Corporation, STAR Tollways Corporation, Atty. Alvin B. Bugtas representing the Citra Group, San Miguel Corporation, Amicus Holdings, Inc. and IL&FS Transportation Networks Ltd. through a bid bulletin issued last November 27, 2009.
Under the same advisory, the Issuance of Notice of Award was also moved from January 21 to January 22, 2010. The subsequent contract signing and Issuance of Notice to Proceed will be on February 22, 2010.
Last 16 November 2009, BCDA opened the SCTEX data room at the Bonifacio Technology Center in Taguig City, following the bidders’ request that they be provided all the information needed to come up with an accurate and realistic offer. Five out of six bidders have visited the place and gathered such relevant data as the actual traffic volume and revenue, traffic study and operations manual, Zablan said. A separate data room—for engineering plans, drawings and technical specifications—is also available at the BCDA construction and engineering project management office in Clark. Both the BCDA Taguig and Clark SCTEX data rooms are open to the bidders until December 23, 2009, except Sundays and holidays, Zablan said.
Under the SCTEX privatization program, the winning bidder will enter into a lease or concession agreement with BCDA to manage, operate and maintain the SCTEX on “as is, where is,” basis for a period of 33 and a half years until 2043.
The winning bidder will be responsible for the operational funding requirements in running the country’s longest tollway, including periodic maintenance and emergency works, which will be covered by a performance security.
The private sector partner will also arrange for the insurance of the 93.77-kilometer toll road.
BCDA will receive a semi-annual lease/concession fee from the winning bidder, amounting to either: the peso equivalent of yen-dominated JBIC/JICA loan debt servicing as well as all financing charges payable to BCDA 10 days prior to its due dates secured by a rolling five-year letter of credit; or twenty percent of audited gross revenues whichever is higher.
