MANILA, (PNA) — The Department of Transportation and Communications has lowered a number of financial considerations for the bidding of the Mactan-Cebu International Airport improvements project.
In Special Bid Bulletin number 13-2013 dated Sept. 4, 2013,, DoTC Usec. for Planning and Project Development Rene Limcaoco said the Financial Support required by the bidder for implementing the project will now be P 3,998,000,000 from P 4,145,000,000.
Limcaoco is also the vice chairman of the pre-qualification bid and awards committee.
Also, Limcaoco said in the bulletin that the Construction Performance Security will be lessened from P 350,000,000 to P 180,000,000. This will be in the form of an irrevocable letter of credit.
The project costs some P 17.5 billion with seven pre-qualified bidders including AAA Airport Partners, SMA and Incheon Airport Consortium, MPIC-JGS Airport Consortium, First Philippine Airports, Premiere Airports Group, GMR-Megawide Consortium, and Filinvest CAI Consortium.