SBMA to open bids for Subic Bay port development project

The Subic Bay Metropolitan Authority (SBMA) will finally open today the financial bids submitted earlier this year by two qualified bidders for the Subic Bay Port Development Project.

SBMA chairman Felicito Payumo said the two qualified bidders are Toyo Corp. of Japan and the joint venture group composed of the Penta Ocean Group, Shimitsu Corp. and TOA Corp.

A third bidder, Nishimatsu was disqualified because of its "non-response" to the technical submission.

Even Toyo Corp. was almost disqualified when its original partner in the bid, Mitsui Corp. had to withdraw from the bidding due to a corporate scandal back in Japan.

The three groups had earlier this year submitted two bids for the Subic Bay Port Development Project.

The first envelope contained their technical bid, while the second envelope contained their financial bid.

The technical bid had been opened earlier and was the basis for the final qualification of the two remaining bidders.

According to Payumo, the SBMA bid committee would open the two financial bids today in front of invited representatives of media, the Subic Chamber of Commerce, the Commission on Audit and representatives of the two bidders.

The bids of the two groups would be publicly posted but the final awarding would be made only after an evaluation by the SBMA Bid Committee.

The evaluation of the financial bids is expected to take at least 45 days.

The two bidders must submit the lowest bid for the construction of a new container terminal and renovation of existing wharves.

The Subic Bay Port Development Project has already secured financial funding amounting to $215 million from the Japan Bank for International Cooperation (JBIC).

Once the project is awarded to the winning bidder, construction is expected to start by April next year.

The project was initially scheduled to start in September this year, but was slightly delayed due to some environmental concerns raised by the group of former SBMA chairman Richard Gordon.

Payumo is confident that despite Gordon’s objection, the project would finally be able to proceed since it would greatly enhance the development of the Subic Freeport.