SBMA bids out 2nd New Container Terminal | SubicNewsLink

08 December 2008

SBMA bids out 2nd New Container Terminal

The Subic Bay Metropolitan Authority (SBMA) is now inviting bidders for the operation and management of the New Container Terminal-2 (NCT-2), the second phase of the multi-million dollar project designed to strengthen Subic’s capacity as a globally-competitive maritime service and logistics port.

SBMA Administrator Armand Arreza said the NCT-2, which is located at Cubi Point in this free port, will be bid out as a transshipment hub for shipping lines.

“What we’re basically looking for is a shipping line or a port operator who has the capacity to manage and maintain the NCT-2,” said Arreza, who is also chairman of the Special Bids and Awards Committee (SBAC) for Port Commercialization.

“The NCT-2, like the NCT-1 or the first phase of the terminal project, is considered a critical infrastructure for the Port of Subic, so we’d like to maximize its potential to make Subic a world-class player in the logistics business,” he added.

The NCT-2, which has an annual cargo-handling capacity of 300,000 TEUs, was completed early this year.

Arreza said it has 14 hectares of newly-constructed container yard, a 280-meter long newly-constructed wharf, two units of 53-ton quay gantry cranes, as well as buildings, equipment and utilities within the area.

Arreza said that to be eligible in the bidding, the bidder should be an operator of an international container shipping line or a consortium of operators of international shipping lines.

He added that the bidder should be currently operating an international container port terminal that handles at least 2 million TEUs per year, or has an operating capacity of 100,000 TEUs, a figure which could be combined for a bidding consortium.

Further, the bidder or consortium of bidders should have a net worth of at least US$50 million, which could also be a combined net worth in case of a consortium.

As for financial qualifications, Arreza said the bidders should be able to submit audited financial statements for the last five years; a sworn statement that there has been no materials change in the financial condition since the last audited financial statement; and letters or testimonials from reputable banks that the bidder is banking with them.

Bidders will also be required to submit evidence of the availability of, or the capacity to raise the amount needed for the operation and management of NCT-2 in the amount of at least US$50 million.

Legal requirements also state that each bidder should be able to submit proof of legal eligibility and competence to undertake the operation and maintenance of NCT-2 in terms of corporate personality, government authorization and licenses; and that it has no tax accountability.

This requirement also applies to foreign bidders, whose documents must be duly authenticated by Philippine consular officials in the country of the foreign bidder, Arreza clarified.

He added, however, that the equity participation of a foreigner shall not exceed 40 percent of the total equity of the winning operator.

Arreza said that bid documents will be available starting December 9, 2008 at the Project Management Office, Bldg. 29 Waterfront Road Extension, SRF Compound, Subic Bay Freeport, upon payment of a non-refundable amount of PhP100,000 or US$2,500.

Submission of completed bid documents will be on or before 5:00 p.m. of January 22, 2009, also at the Project Management Office. (SBMA Corporate Communications)

Photo caption: The New Container Terminal-2, with its two gantry cranes and other facilities and equipment, is being bid out to shipping lines or port operators.