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Azurest disqualified, OUR moves to EWI for construction of 360MW plant
Top bidder unable to deliver bond, denied 15-day extension
Friday, October 04, 2013 |
KINGSTON, Jamaica -- The Office of Utilities Regulation (OUR) will today proceed to offer the opportunity to provide base load generating capacity to the national grid to the second highest ranked bidder as ranked by international consultant, Mott MacMcDonald.
Azurest-Cambridge the highest ranked bidder failed to make the required posting of a security bid bond by the final date yesterday, October 3, 2013.
The OUR will now inform the next ranked entity, Energy World International/Pacific LNG (EWI) that it has 15 days as of October 4, 2013, to provide its bid bond, the utilities regulator said Friday morning.
In a letter to the OUR Thursday, Azurest-Cambridge requested an additional fifteen working days to post the bid security.
However, in keeping with the requirements of the OUR’s
Instructions for Final Proposals the request was denied, the regulator said.
“As with Azurest-Cambridge, conclusion of a formal arrangement with EWI is conditional on the completion of aspects of due diligence on the company and its principals by the Financial Investigation Division (FID) which had been requested to carry out this exercise for all bidders,” OUR said in a release.
The OUR says it has posted the Executive Summary of the Evaluation of the bids for Base Load Capacity project on its website. It can be accessed via the following link:
Read more: http://www.jamaicaobserver.com/news/...#ixzz2gmFcUFfw
Top bidder unable to deliver bond, denied 15-day extension
Friday, October 04, 2013 |
KINGSTON, Jamaica -- The Office of Utilities Regulation (OUR) will today proceed to offer the opportunity to provide base load generating capacity to the national grid to the second highest ranked bidder as ranked by international consultant, Mott MacMcDonald.
Azurest-Cambridge the highest ranked bidder failed to make the required posting of a security bid bond by the final date yesterday, October 3, 2013.
The OUR will now inform the next ranked entity, Energy World International/Pacific LNG (EWI) that it has 15 days as of October 4, 2013, to provide its bid bond, the utilities regulator said Friday morning.
In a letter to the OUR Thursday, Azurest-Cambridge requested an additional fifteen working days to post the bid security.
However, in keeping with the requirements of the OUR’s
Instructions for Final Proposals the request was denied, the regulator said.
“As with Azurest-Cambridge, conclusion of a formal arrangement with EWI is conditional on the completion of aspects of due diligence on the company and its principals by the Financial Investigation Division (FID) which had been requested to carry out this exercise for all bidders,” OUR said in a release.
The OUR says it has posted the Executive Summary of the Evaluation of the bids for Base Load Capacity project on its website. It can be accessed via the following link:
Read more: http://www.jamaicaobserver.com/news/...#ixzz2gmFcUFfw
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