The Hindu : Andhra Pradesh / Hyderabad News : Metro rail: panel to examine financial bids

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Tuesday, Jul 22, 2008
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Andhra Pradesh

Andhra Pradesh - Hyderabad

Metro rail: panel to examine financial bids

Special Correspondent

HYDERABAD: Two days from now i.e. by Wednesday evening, the prospective Build, Operate and Transfer (BOT) developer for the elevated metro project in the public private partnership mode, is likely to be known.

The government issued orders on Monday appointing a three-member committee to examine the financial bid documents to be submitted by the five national and international consortia vying for the prestigious and one of world’s largest metro system being attempted in one go.

Panel members

Hyderabad Metro Rail Limited’s Managing Director N.V.S. Reddy, Principal Secretary (Finance) N. Ramesh Kumar and Hyderabad Metropolitan Water Supply and Sewerage Board’s Managing Director G. Ashok Kumar have been authorised to receive, open and evaluate the bids.

The trio will be assisted by ‘owner’s consultant’ – Span Semaly and legal advisor Amarchand Mangaldas firm. Bids will be received from 11 a.m. on July 23 and within half hour all the documents will be opened in the presence of all the bidders.

BOT developer will be chosen based on the least grant (Viability Gap Funding) sought from the government since the five national and international consortia short-listed have all qualified in the technical bids. “We may announce the private developer provided there are no legal complications,” said an official.

No change in clauses

Bidders have been clearly told by the government that there shall be no change in any of the clauses either in the Request for Proposal (RFP) or the Concessionaire Agreement under any circumstances. The legal advisor will scan through documents like respective bidder’s board resolutions, power of attorney and bank guarantee amount of Rs. 60 crore, an official said.

Once the bid documents are examined thoroughly and if there are no legal hassles, the three-member panel will forward their recommendation to the government through the HMR Chairman and ex-officio Principal Secretary C.V.S.K. Sarma.

And the final green signal could come within days, officials indicated.

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