INVITATION FOR JOINT VENTURE
The LOCAL GOVERNMENT UNIT OF STA MAGDALENA, SORSOGON, through its Project Selection Team (PST), under the LGU-Public, Private Partnership for the People Scheme (LGU-P4), invites investors to apply to enter into a joint venture agreement:
Name of the Project: Business & Tourism Hub Project
Location: Barangay 2 & 3, Poblacion Sta. Magdalena, Sorsogon
Brief Description: Business and Tourism Hub, consisting of; Fishwraft, Wavebreakers, Mariculture/Playground, Reclamation, Market, & Integrated Transport terminal which shall have income from rentals, user’s fees and production in which the Joint Venture Partner shall undertake the completion of the aforementioned facilities which was already started and partially constructed by the LGU of Sta. Magdalena and provide for the initial operating costs for the first year of operations of the hub.
Approximate Cost to Complete
Plus First Year Operating Cost: PhP 52,000,000.00
Approximate Cost of Started Part of the Project: PhP 20,158,975.00
Estimated Time to Complete: Three Hundred Fifty (350) calendar days
Prospective investors must be a bonafide registered company in the Philippines which could also be affiliates of foreign-based group with provisions in their registration that they could enter into joint ventures. Bid to enter in a joint venture shall be based on meeting the completion of requirement and any additional resources to put into the joint venture at the shortest possible time while maintaining the 72%-partner and 28% -LGU equity participation.
The schedule of the activities is listed, as follows:
Activities – Schedule
1. Issuance of Bid Documents- Starting May 30, 2018
2. Pre-bid Conference - June 11, 2018, 1pm
3. Submission of the Opening of Bids – June 19, 2018, 1pm
Joint Venture documents will be available only to prospective bidder upon payment of a non-refundable amount of Ten Thousand Pesos (10,000.00) to the LGU Sta. Magdalena, Sorsogon Cashier. Interested bidders may obtain further information from the PST Secretariat, Municipal Building, Sta. Magdalena LGU, Sta. Magdalena, Sorsogon, contact 0918-6572703.
The LGU Sta. Magdalena, Sorsogon reserves the right to accept or reject any offer, to annul the selection process, and to reject all offers at any time prior the contact award, without thereby incurring any liability to the affected offeror(s).
(SGD)ANITA B. CORREA