Mubasher: Bahrian’s King Fahd Causeway Authority (KFCA) revealed that it has invited bids from transaction advisory services consultants to construct the transition phase of King Hamad Causeway project.
Spanning 25 kilometres, the causeway links Bahrain with Saudi Arabia and the wider GCC network.
The project’s cost amounted to $4 billion, while its construction is expected to start by mid-2021.
The project also includes a rail line connected to the wider GCC network, in addition to vehicle lanes and cargo trains.
The transaction advisor will take the form of consortium, comprised of legal, technical, and financial advisors, according to KFCA.
The transaction advisor will act as the consortium leader and should be a “recognised international financial consultancy firm with proven experience in accomplishing public-private partnership (PPP) financial close for major transportation projects worldwide,” Construction Week Online reported.
The company must be a registered corporate whether in Saudi Arabia or Bahrain, while international bidders are required to submit a commitment letter to complete the required registration within 180 days of the award notification date.
Moreover, the financial advisor must have advised on a minimum of three PPP projects in the last five years.
The authority noted that the deadline for submission is 21 February 2019 and that a minimum of 2% bid bond valid for 90 days from the tender submission date must also be provided.
