MNTC's upfront cash offer is PHP 3.5 billion
The Board of Directors of the Bases Conversion and Development Authority (BCDA) has approved the bidding guidelines for the price challenge on the Subic-Clark-Tarlac Expressway (SCTEX) that will pave the way for the long term maintenance operations management of the 94 km toll road.
BCDA President and CEO Arnel Paciano D. Casanova said that the bidding will be beneficial to the public.
“We are confident that the bidding will result in the best deal for government and motorists. Transparent and competitive biddings are a hallmark of the Aquino administration and have proven to be always beneficial to the public interest,” Casanova said.
In regards to the SCTEX price challenge, BCDA says the Manila North Tollways Corporation (MNTC) will have the right to match the highest bid for the project. Subsequently, the BCDA is bidding out the rights, interests and obligations in the management, operation and maintenance of the SCTEX under a business and operating agreement for a period of 28 years or ending in 2043.
As of this writing, the business operating agreement on SCTEX signed by the BCDA and MNTC are subject for approval by President Benigno Aquino III. With this, Malacañang ordered the price challenge in the interest of transparency.
Interested proponents are expected to submit a higher price than MNTC's upfront cash offer of PHP 3.5 billion. Foreign and local firms subject to eligibility requirements are expected to participate in the bidding process. They can either be registered corporations, joint ventures or consortia.