SM Consortium still eyeing fare project

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One of the potential bidders eyeing the P1.72-billion Automatic Fare Collection System (AFCS) Project for Metro Manila’s light rail system that submitted negative bids believes that it has the superior bid.

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A negative bid means that the bidder is proposing to pay the government to undertake the project.

“Two weeks ago I wrote a letter asking them for clarification,” said Hans Sy of the SM Consortium.

He added that, “The argument is not to look into the present value only but to look in all terms and conditions. We believe we are superior because our bid has no condition at all,” he said.

“We don’t set conditions that ridership should reach so many hundreds or millions. Whether it reach one million, even if no ridership, we will pay upfront. But in the end, it’s their call,” Sy added.

The AF Consortium of the Ayala Group and Metro Pacific Investment Corp. submitted a negative bid of P1.088 billion for the AFCS, besting by P103,900 the bid submitted by the SM Consortium of Henry Sy.

Earlier, the Department of Transportation and Communications (DOTC) said that two potential bidders vying for the AFCS Project submitted negative bids.

The AFCS is expected to improve ridership of Light Rail Transit (LRT) and Metro Rail Transit (MRT) commuters through a modern and convenient fare collection system.

Earlier, Michael Arthur Sagcal, DOTC spokesperson said that, “The negative bid of AF Consortium is the lowest of all the bids, that means they will pay the government. They are offering to do the project by paying us P1.8 billion plus.”

The SM Consortium is composed of SM Investments Corp., BDO Capital Investment Corp., Advanced Card Systems Ltd. and Pentacapital Investment Corp.

Meanwhile, the AF Consortium is composed of BPI Card Finance Corp. as lead member, Globe Telecom Inc. and AC Infra-structure Holdings Corp. of the Ayala Group; and Metro Pacific Investments Corp., Smart Communications and Meralco FinServe of the First Pacific group.

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