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Deadline looms but no word from Azurest Cambridge
5:33 pm, Thu October 3, 2013
The Office of Utilities Regulation (OUR) says it is yet to receive the bid bond from Azurest Cambridge which will see the consortium continue as the preferred bidder.
Azurest Cambridge was selected as the preferred bidder to construct a 360 megawatt power plant on September 18 and was given 15 days to submit a bid bond equivalent to 1 percent of the estimated cost of the project.
Azurest Cambridge had estimated that its project will cost US$690 million which makes its bid bond some US$6 .9 million .
On Wednesday the Private Sector Organisation of Jamaica (PSOJ) recommended to the OUR that Azurest-Cambridge be disqualified from the process if it failed to provide the bid bond, however, the company has until 11:59pm to submit the bid bond.
If the entity fails in that request, the OUR will invite the next best bidder by its ranking, the Chinese based, Energy World to build the new power plants.
The new power plants are to be built with the aim of cutting the cost of electricity to Jamaicans by at least 25 percent by the 2016 which the government says will allow the country's productive sector to be able to compete with those in other countries.
5:33 pm, Thu October 3, 2013
The Office of Utilities Regulation (OUR) says it is yet to receive the bid bond from Azurest Cambridge which will see the consortium continue as the preferred bidder.
Azurest Cambridge was selected as the preferred bidder to construct a 360 megawatt power plant on September 18 and was given 15 days to submit a bid bond equivalent to 1 percent of the estimated cost of the project.
Azurest Cambridge had estimated that its project will cost US$690 million which makes its bid bond some US$6 .9 million .
On Wednesday the Private Sector Organisation of Jamaica (PSOJ) recommended to the OUR that Azurest-Cambridge be disqualified from the process if it failed to provide the bid bond, however, the company has until 11:59pm to submit the bid bond.
If the entity fails in that request, the OUR will invite the next best bidder by its ranking, the Chinese based, Energy World to build the new power plants.
The new power plants are to be built with the aim of cutting the cost of electricity to Jamaicans by at least 25 percent by the 2016 which the government says will allow the country's productive sector to be able to compete with those in other countries.
