Tag Archives: Tender

Turkey cancels $5.7bn highway privatisation tender

ISTANBUL: Turkish Finance Minister Mehmet Simsek said on Friday the government had cancelled a $5.7 billion tender for the privatisation of toll roads and bridges, after Prime Minister Tayyip Erdogan earlier said the result had not met expectations.

Turkey’s Koc Holding and Gozde Girisim and Malaysia’s UEM Group Berhad had won the tender in December.

The Istanbul stock exchange was closed when Simsek made the statement.

Copyright Reuters, 2013


Chinese company wins Ord Stage Two tender

Updated November 20, 2012 19:20:06

A Chinese company, Shanghai Zhongfu, has been confirmed as the preferred developer of Ord stage two in WA’s north.

The West Australian Government says the company, trading as Kimberley Agricultural Investment, will develop 15,000 hectares.

It says Zhongfu plans to invest up to $700 million over six years to establish the sugar industry in Kununurra.

The company is keen to build a $250 million sugar mill and harvest sugar cane.

The Regional Development Minister, Brendon Grylls, says it aims to produce four million tonnes of cane a year.

He says the scale of the development is one reason Zhongfu was chosen.

“I think for me and the cabinet the scale, the size of the investment, it’s a $700-million dollar investment into agricultural development,” he said.

“Western Australia is one of the most prosperous places in the world based on our partners in the international community to develop our mining sector.

“We simply want to drive that partnership into new areas of the economy.”

Speaking through an interpreter, the CEO JinZhong Yin says opportunities will be created.

“If our vision is realised, there will be significant investment made in northern Australia and opportunities for the people of this area,” he said.

“I’m pleased to say that the project will create many jobs for local people.

“However, international expertise will be sought for technical aspects such as the design and construction of the world class sugar mill.”

Mr Grylls says the project will drive investment and jobs.

“Their intention is not for the Chinese to do the farming,” he said.

“The intention after constructing the farms is to essentially sub-lease that land out and local farmers and others will have the opportunity to come in and essentially grow the sugar on a contract basis.”

The Premier Colin Barnett says it is an important step towards diversifying WA’s economy.

“I think it will be the forerunner of more overseas investment, particularly from China, into the agricultural industry,” he said.

The federal Opposition Leader, Tony Abbott, is in Perth today and has welcomed the decision.

“We support foreign investment provided it’s clearly in Australia’s national interest,” he said.

“And, one of the points that’s been in made in favour of this particular foreign investment, is that it’s not actually selling the farm, it’s building the farm.”

The Wilderness Society’s Peter Robertson says he is alarmed by the development.

“We’re obviously concerned about the environmental impacts of trying to impose broad scale agriculture in northern Australia because we know that it comes at an enormous environmental cost and more often than not it fails,” he said.

“But we’re also obviously concerned about some of the specifics in relation to the amount of money that’s been expended and whether the public can expect any real return from it.”

Ord Stage Two is a $300 million plus taxpayer-funded program which is part of a state and federal government plan meant to create a northern food bowl.

Mr Robertson says the move amounts to pork-barrelling.

“We know that the National Party in particular sees the seat of Kimberley as one that it can hope to win at the next election,” he said.

“And, pouring $300-million of taxpayers money into this development in the east Kimberley could easily be seen as a massive pork-barrelling exercise by the National Party in the lead-up to the coming state election.”

The state Opposition Leader Mark McGowan says he has no problems with foreign investment in the area but the terms of the agreement mean taxpayers will not see the benefits.

“$311-million for no money back, for giving the land away in effect, plus no food for West Australian households, or cheaper food for West Australian households, to me isn’t the right priority,” he said.

East Kimberley shire CEO Gary Gaffney has given his full support.

“Local government will work pro-actively to ensure that the development goes forward,” he said.

“Any planning and building requirements; we’ll work to ensure they’re handled in a very professional and on-time manner as this is an important development for all of Australia.”

Before the project can go ahead, the proponent has to reach an agreement with traditional owners, who will get 675 hectares of land.

Topics: agricultural-crops, government-and-politics, business-economics-and-finance, kununurra-6743, perth-6000

First posted November 20, 2012 13:19:55

ECB to lend 75bn euros at weekly tender: POLL

Monday, 19 November 2012 18:20 Posted by Muhammad Iqbal

BANGALORE: European Central Bank will lend banks 75 billion euros ($95.3 billion) at its weekly refinancing operation, little changed from the amount maturing from last week’s tender, a Reuters poll showed on Monday.

Forecasts in the survey of 24 money market traders ranged from 70 billion euros to 80 billion euros, the narrowest range seen since May.

Banks borrowed 75.2 billion euros from the ECB at last week’s tender.

Results of the weekly tender will be announced on Tuesday and the money allotted on Wednesday.

Copyright Reuters, 2012

Chinese firm denies Ord tender win reports

Updated November 14, 2012 16:10:42

The Chinese company Shanghai Zhongfu says it does not yet know whether it has won the right to develop land in the second stage of the Ord Valley expansion in Western Australia.

There were reports in the Australian newspaper today that the conglomerate had been awarded all the land in the tender process.

The $515 million Ord expansion project is part of a state and federal government plan to continue the development of farming in the area.

It covers more than 15,000 hectares of land.

Shanghai Zhongfu says it has not yet heard from the West Australian State Government and does not know when it will be told if its bid has been successful.

The WA Premier Colin Barnett says he will not reveal which company has been awarded the lease until next week.

Mr Barnett told state parliament the tender agreement details will be revealed then.

“The tender process has been conducted; there still are some steps to take and we will not, Mr Speaker, I will not pre-empt any stages of the announcement until the final stages of that tender and the verification process is finished,” he said.

Federal Environment Minister Tony Burke says he does not know exactly what WA has decided to do, but he is comfortable with foreign investment.

“Who’s bought it? Exactly how it’s happened? That question can only be answered by the WA Government,” he said.

“But in the general principle of do I have a problem with foreign investment? No.

“And, anybody who wants to say we should put up the tariff walls needs to argue that with their eyes wide open that they’d be running the economy into the ground.”

But Federal Nationals leader Warren Truss says the State Government should give fair consideration to Australian companies wanting to develop the land.

“Our argument has always been that foreign investment needs to be subject to a national interest test. We need to be sure that new developments are not contrary to the national interest,” he said.

“I haven’t seen any of the bids to be able to make any kind of a comparison.

“But I make the observations, firstly that their decision needs to take into account that the project is not contrary to the national interest and that it delivers the very best possible deal for WA and for Australia.”

Topics: agribusiness, rural, business-economics-and-finance, trade, karratha-6714, wa

First posted November 14, 2012 13:12:08

Qld Government plans tender process for CSG exploration

Updated October 10, 2012 08:25:31

The Queensland Government says it will introduce competitive cash bidding for coal seam gas (CSG) exploration.

The CSG industry is meeting in Brisbane this week to discuss business opportunities and environmental and community challenges.

Mines Minister Andrew Cripps says the Government is moving from controlled land releases to a tender process for coal, petroleum and gas exploration.

He says the first parcels of land will be released for tender in the next few weeks.

Mr Cripps says the change will ensure companies who gain exploration permission are determined to develop potential gas projects.

“This is just one way the Government will continue to foster exploration activity in Queensland,” he said.

“The move to a highly transparent competitive process will strengthen the stewardship of Queensland’s coal and petroleum gas resources and maximise the benefits these resources bring to the people of Queensland.”

The gas industry has welcomed red tape reduction in Queensland but not the introduction of cash bidding for exploration.

However, the CSG industry says Australia could miss out on the chance to become a world leader, if governments do not reduce regulation and costs.

The industry says it is facing continuing opposition from landholders and green groups.

With $60 billion worth of projects already approved, the industry is up-beat about its prospects.

Australian Petroleum Production and Exploration Association (APPEA) spokesman David Byers says gas companies have improved the way they deal with landholders and communities.

He says opposition to CSG is fading, despite continuing protests.

“This should really be seen for what it is – it’s background noise,” he said.

Meanwhile, about 50 people protested outside the conference in Brisbane today, with spokesman Drew Hutton saying those opposed to CSG are fighting back.

“We’re background noise that’s causing them immense problems,” Mr Hutton said.

Topics: public-sector, oil-and-gas, regulation, mining-rural, mining-environmental-issues, mining-industry, brisbane-4000, toowoomba-4350, bundaberg-4670

First posted October 09, 2012 13:17:08

New Zealand makes Hobbit coins legal tender

Updated October 11, 2012 09:45:03

New Zealand will release commemorative Hobbit coins worth thousands of dollars ahead of next month’s premier of director Peter Jackson’s latest Tolkien epic.

The coins featuring characters such as Bilbo Baggins and Gandalf the wizard will be legal tender in the country, New Zealand Post said, although their face value will be only a fraction of the cost collectors will be expected to pay.

The most expensive, made from 28.3 grams of pure gold, will set Tolkien enthusiasts back NZ$3,695 ($3,020) but has a face value of just NZ$10, while the cheapest is a NZ$1 coin retailing for NZ$29.90.

The coins go on sale from November 1 and New Zealand Post said it expected strong international interest in the build up to the premiere of the first of the three Hobbit movies in Wellington on November 28.

Jackson, who was responsible for the Oscar-winning adaptation of Tolkien’s The Lord of the Rings trilogy, announced earlier this year that he would make three films from The Hobbit book, rather than two as originally planned.

British actor Martin Freeman, from The Office, takes on the central role of Bilbo Baggins, who is swept into an epic quest to reclaim the lost Dwarf Kingdom of Erebor from the fearsome dragon Smaug.

Other big names appearing include Cate Blanchett, Ian McKellen, Barry Humphries, Stephen Fry, and Billy Connolly.

New Zealand enjoyed a huge tourism boom after the original trilogy and is hoping to repeat the success with the Hobbit movies, launching a campaign branding the country “100 per cent Middle Earth” to coincide with the premiere.


Topics: film-movies, fantasy-films, currency, offbeat, new-zealand

First posted October 10, 2012 21:26:03

NTDC asked to improve tender awarding process

LAHORE: The Asian Development Bank (ADB) has asked the National Transmission and Despatch Company (NTDC) to improve its bid evaluation procedure in line with the revised guidelines, after discovering serious flaws in the tender awarding process under the power transmission enhancement investment programme, sources said on Tuesday.

In another related development, the board of directors meeting of NTDC is scheduled to be held on Wednesday in Lahore, the sources said, adding that the issue of anomalies in awarding contract for the construction of 600km transmission line of 500kVA from Jamshoro to Rahim Yar Khan will be deliberated during the meeting.

The ADB has offered around $100 million funding for the construction of mega transmission line between Jamshoro, and Rahim Yar Khan, besides establishment of a connecting grid station. However, following alleged irregularities in awarding the contract by NTDC, the ADB has expressed serious reservations over conduct of the NTDC management.

In a stark warning to the top management of NTDC, the ADB has made improvement in bidding evaluation process conditional for further processing of funding arrangements, as per the letter written about two weeks ago.

Rune Stroem, director of Energy Division in the Central West Asia Regional Department (CWRD) of the Asian Development Bank, wrote a letter to the managing director of NTDC regarding power transmission enhancement investment programme, recruitment of project preparatory consultant for tranche 4 on September 17, the sources said.

“Considering the problems and the issues encountered during the bidding and evaluation of two major packages under tranche 3, we are unable to support requirement of the project preparatory consultants without the inclusion of the procurement team,” he said. “In this regard, we request NTDC, as discussed during the inception mission in April, to include a procurement team in the terms of reference (ToR) to help NTDC prepare bidding documents and bid evaluation reports,” he added.

“Further, we reiterate our suggestion for NTDC to allow the consultants procurement team to complete the bid evaluation independently and submit it to the NTDC evaluation committee for review and further submission to the responsive authority for approval; and constitute an evaluation committee for reviewing the procurement documents, comprising members from NTDC existing evaluation and scrutiny committees, and the consultant’s procurement team,” said the ADB director.

“We consider that this arrangement could improve the current set up where there are multiple review committees, which delay the approval process and increase the risks of leakage of confidential information,” he said.

“The same evaluation committee can also be asked to present the procurement recommendations to NTDC board for final approval. If there are other arrangements and NTDC is considering improving the performance of the investment programme, please let us know,” he said.

The controversy over awarding the contract under the ADB-funded project brewed following failure of NTDC in following set guidelines in this connection. Resultantly, the NTDC management has to scrap whole tender process, jeopardising the efforts to augment transmission network amid catastrophic energy crisis in the country.

In response to the government of Pakistan’s request, the Asian Development Bank had agreed to finance the implementation of the power transmission enhancement investment programme, being executed through a multi-tranche financial facility (MFF) divided into four tranches, the sources said.

The ministry of water and power and the National Transmission and Dispatch Company are the executing agency and the implementing agency, respectively.

Tender awarded for 50,000 tons urea import

Tradin­g Corpor­ation purcha­ses fertil­iser at $419 per ton.  Trading Corporation purchases fertiliser at $419 per ton.


The Trading Corporation of Pakistan (TCP), in a tender opened on Friday, awarded contract for import of 50,000 tons of urea at $419.39 per ton including cost and freight to the lowest bidder, Key Trade AG Switzerland.

According to a press release issued by the TCP, nine bids were received in response to the tender floated on July 13. The prices were quoted in the range of $419.39 to $447.39 per ton. Key Trade offered the lowest price of $419.39 per ton for 50,000 tons while conforming to technical specifications and terms and conditions of the tender.

Keeping in view the competitiveness and consonance of the price with international prices of urea, the offer was accepted and the contract was awarded to the lowest bidder, the TCP said. With the award of the tender, the TCP said it had completed procurement of the targeted quantity of 300,000 tons, given by the government, for the current Kharif sowing season.

According to the TCP, out of the earlier contracted quantity of 250,000 tons, around 110,000 tons have arrived and delivered to the National Fertiliser Marketing Limited (NFML). The rest of the shipments of the imported urea are in the pipeline.

Published in The Express Tribune, July 28th, 2012.