Expressions of interest (EOI) for firms aiming to bid on constructing a special economic zone in Rakhine State are slated to be issued later this month, according to officials involved in the project.
The EOIs for the Kyaukpyu Special Economic Zone will be made available on July 14 with a submission deadline of August 11. Submitted EOIs will be opened the following day. After an evaluation process, shortlisted candidates will be announced on September 1.
Three areas of the 1,400-acre SEZ are being developed separately, including a deep sea port, industrial park and residential area. EOIs will be issued for companies and consortiums interested in each area of the SEZ.
According to officials from project management company PM Link, bids for the deep sea port will be evaluated with 60 percent of the final score based on a firm’s track record, judged on expertise, design and construction of previous projects. The remaining 40pc will be based on financial strength over the past three years.
For the industrial park, 50pc of the final score will be based on track record over the past seven years, with focus on large scale projects greater than 100 hectares. 40pc will be drawn from financial strength and the remaining 10pc will be based on awards and certifications won by the company or consortium lead.
The residential area EOIs will be evaluated using the same grading breakdown as the industrial park development.
Following the EOI process, requests for proposals are set to be issued on September 9, with a submission deadline of November 10. The requests for proposals will be opened the next day.
Singaporean consultancy CPG Corporation was selected in early March to lead a consortium of companies in advising the Bid Evaluation and Awarding Committee. The group also includes real estate firm DTZ, Global Maritime and Port Services, accountants Ernst & Young and PM Link.
Officials from the consortium held an open information event in Yangon yesterday as part of a larger “road show” to drum up interest in the SEZ. Company officials and representatives from the Myanmar government will be in Singapore on July 7 for a similar event.
The Myanmar government is hoping that Kyaukpyu’s location coupled with investment incentives will attract companies and turn the area into a major trading hub. PM Link officials said that firms that are selected to invest in the SEZ will be eligible for income tax exemption for eight years and customs duty exemptions on the importation of construction equipment and machinery, along with other incentives.
Source: MYANMAR TIMES