Financial Times

Bidding deadline for South Container Terminal project extended


The Sri Lanka Ports Authority (SLPA) is extending the deadline for proposals for the South Container Terminal of the Colombo Port Expansion Project. According to an advertisement which appeared in last Sunday’s papers, the Cabinet Appointed Negotiating Committee (CANC) has decided to extend the deadline to 16 June 2009.

The previous closing date for the submissions of proposals was 19 May 2009 which was announced earlier this year. Industry sources told The Sunday Times FT that one of the reasons the deadline was extended might be due to local organizations that have picked up the documents that do not qualify.
According to the sources, serious players have not come in as yet.

Chairman and CEO of Aitken Spence Shipping Ltd Parakrama Dissanayake said he does expect quality proposals to come in before the deadline due to the fact that the SLPA has responded to questions and concerns raised by those who picked up the bid documents and amended some conditions. “The clarifications sent in seem to be investor friendly,” Dr. Dissanayake said.

“They have taken the current global economic environment into consideration. It is much more favourable and investor friendly and because of the positive response of the SLPA, I think there will be some good proposals.”

Dr. Dissanayake said one of the changes the SLPA has brought forth is in reducing the up front payment one had to put in to US$15 million from US$25 million. The balance is to be paid within five years.
Similarly, the minimum guarantee has been brought down during the first two or three years and the construction period has been extended.

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