THE Board of Directors of the Bases Conversion and Development Authority (BCDA) this week approved the guidelines for the price challenge on the Subic-Clark-Tarlac Expressway (SCTEX) that will pave the way for the long-term maintenance and operations management of the 94-kilometer toll road.
“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,” BCDA president and chief executive officer Arnel Paciano D. Casanova said.
In the SCTEX price challenge, Manila North Tollways Corporation (MNTC) will have the right to match the highest bid for the project.
Interested proponents are expected to submit a higher price than MNTC’s upfront cash offer of P3.5 billion in addition to the 50-50 sharing of gross revenues.
The BCDA is bidding out the rights, interest and obligations in the management, operation and maintenance of the SCTEX under a business and operating agreement for a period of twenty-eight (28) years or ending in 2043.
The SCTEX is a four-lane divided expressway traversing the provinces of Bataan, Pampanga and Tarlac and is directly linked to the North Luzon Expressway.
The BCDA and MNTC signed a business operating agreement on SCTEX subject to the approval of the President of the Philippines. As a condition for the approval, Malacanang ordered the price challenge in the interest of transparency.
Foreign and local firms subject to eligibility requirements are expected to participate in the bidding process which starts this week. They can either be registered corporations or joint ventures and consortia.