MEPIF | Quote | Chart | News | PowerRating -- SIX groups have expressed interest in taking over the operations of the Subic-Clark-Tarlac Expressway (SCTEx), according to state-owned Bases Conversion and Development Authority (BCDA). In a statement, Victor Zablan, BCDA vice president for finance and chairperson of the agency's Asset Disposition Program Committee, said Amicus Holdings Inc., Citra Group, IL&FS Transportation Networks Ltd., Metro Pacific Tollways Development Corp., San Miguel Corp. and STAR Tollways Corp. have purchased the Terms of Reference (TOR) for the Selection of the BCDA's Private Partner for the Privatization of the SCTEx.
Zablan said these six parties have attended the pre-bid conference on November 10 at the BCDA Corporate Center in Bonifacio Global City.
"The deadline for the submission of proposals and eligibility documents has been set on December 4, 2009; the opening of financial bids on December 11, 2009; and the issuances of the Notice of Award and Notice to Proceed to the winning private sector partner will be on December 22, 2009 and January 27, 2010, respectively," Zablan said.
He said the lease/concession agreement to manage, operate and maintain SCTEx will be for 33 years and six months, or from April 28, 2010 to October 30, 2043.
Under the TOR, the private sector partner will shoulder the operational funding requirements for the management, operations and maintenance of SCTEx--including insurance, periodic maintenance works, special/major/emergency works and all other additional works.
Also, the winning bidder will provide services such as management, security, toll collection, toll road maintenance (including greenery and landscaping), traffic safety and other related services.
BCDA will receive a semi-annual lease/concession fee from the winning bidder, amounting to either the peso equivalent of yen-dominated Japan Bank for International Cooperation/Japan International Cooperation Agency 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 20 percent of audited gross revenues, whichever is higher.
BCDA built SCTEx--a 94.7-kilometer long, four-lane divided toll road that stretches through the provinces of Bataan, Pampanga, Tarlac and Zambales. This expressway interconnects three major economic zones in Central Luzon: Central Techno Park in Tarlac, Clark Freeport Zone and Subic Bay Freeport Zone.
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