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Development of IT Park on PPP model of Design, Build, Finance, Own, Operate and Transfer (DBFOOT)

Contract Award

General Information
Country:   Bhutan
City/Locality:   Bhutan
Notice/Contract Number:   DIT/58-30/2008-09/289
Publication Date:   Sep 17, 2009
Funding Agency:   World Bank
Buyer:   BT Private Sector Development
Original Language:   English

Contact Information
Address:   Mr. Tenzin Chhoeda
Director
Royal Government of Bhutan [Ministry of Information and Communications]
Ministry of Information and Communications
Post Box: 482, Thori Lam,
Thimphu
Bhutan
Telephone:   +975-02-323215,+975-02-322925
Fax:   +975-02-328440
Email:   Click here

Goods, Works and Services

 

Original Text

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Name of Project: Bhutan Private Sector Development Project

IDA Grant Number: H307-BHU

Contract Name: Public Private Partnership to Design, Build, Finance, Own, Operate and Transfer (DBFOOT) an IT Park in Bhutan

Identification Number: DIT/58-30/2008-09/289

Information for Publication of the Award of the Contract

(a) Name of each bidder who submitted a bid

Only one bid was received, from Assetz Property Group Pte Ltd of Singapore in joint venture with Druk Holding & Investments Ltd of Bhutan.

(b) Bid prices as read out at bid opening

F1 = Investment proposed by the Bidder = US$4,507,455
F2 = Maximum land lease payment by the Bidder to the Owner = US$4,356 per annum
F3 = Expected lease payment to the Bidder by the Owner for 10,000 sq ft lease-in space = US$2,000,000

(c) Name and evaluated prices of each bid that was evaluated

Name – Assetz Property Group in joint venture with Druk Holding & Investments

Evaluated Bid Price:
F1 = Investment proposed by the Bidder = US$4,507,454
F2 = Maximum land lease payment by the Bidder to the Owner = US$4,356 per annum
F3 = Expected lease payment to the Bidder by the Owner for 10,000 sq ft lease-in space = US$2,000,000

(d) Name of bidders whose bids were rejected and the reasons for their rejection

None

(e) Name of the winning bidder, and the price it offered

Winning bidder – Assetz Property Group in joint venture with Druk Holding & Investments

Winning Bid Price:
F1 = Investment proposed by the Bidder = US$4,507,454
F2 = Maximum land lease payment by the Bidder to the Owner = US$4,356 per annum
F3 = Expected lease payment to the Bidder by the Owner for 10,000 sq ft lease-in space = US$2,000,000

(f) Duration and summary scope of the contract awarded

Date of contract signing – 04 September 2009
Project completion – 05 September 2011

The Department of Information Technology, Ministry of Information and Communications, Royal Government of Bhutan, invited participation from IT Park developers through an International Competitive Bidding process for building the first IT Park in Bhutan on a Public Private Partnership to Design, Build, Finance, Own, Operate and Transfer (DBFOOT) an IT Park on five acres of land provided by the Owner at Babesa, Thimphu, on lease for an initial period of 30 years, the lease shall be renewed automatically for two consecutive times for a period of 30 years each by the Owner. The developer shall pay a minimum floor price of Nu. 1 per sq ft per annum as land lease payment. The developer shall make investments to construct an IT Park of 50,000 sq ft with high quality flexible office space, of which 10,000 sq ft shall be leased by the Owner for the purposes of establishing an incubation facility, a shared technology center and a data center (Owner to lease at a cost not exceeding US$2 million to be paid in lump sum), and balance 40,000 sq ft for leasing to IT/ITES companies and ancillary support units. The construction of the IT Park shall be completed within 24 months, from the date of contract signature or handing-over of the site, whichever comes later.

The Owner shall provide ancillary infrastructure for the IT Park, viz. water, sewerage, road access, power, and telecom connectivity.

The developer shall transfer the IT Park along with all facilities to the Owner at the end of the lease period in reasonably good condition at no cost either financial or any other associated cost whatsoever to the Owner
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