The process of opening technical and financial bids will be completed in April and the successful firms qualifying the pre-qualification process would be announced on April 27, 2021.
The participating firms are 19 in number including Chinese companies who have taken part in the bidding and based on their technical bids result, shortlisted companies’ financial bids will be opened.
Firms that have acquired tender documents have been directed to submit bids before the expiry date, the official informed.
As per the Tribune, the company winning the contract for the Ring Road project under public-private partnership mode will be given a six months’ deadline to arrange for finances. However, the successful firm would be allowed to start work on the project before that.
Furthermore, the land acquisition process for the 64-kilometre long project has been completed and around 70 per cent of displaced landowners have been paid indemnities.
The Project Management Unit (PMU) works under Lahore Ring Road Authority (LRRA) will oversee the completion of the project which will be pursued by the winning firm and has to complete it in two years.