ANNOUNCEMENT

The following amendments are made to the Bidding Document of for the Lease, Development, Operation and Management of Tourist Resorts, and the Invitation for Bids (the “IFB”) number (IUL) 88-PS/88/2020/76 dated 31^st December 2020.

1)         Clause 6 of the IFB is to be amended as follows

6. The Bidder shall submit a bank guarantee as bid security amounting to USD 50,000 (Fifty Thousand United States Dollars Only), issued by a reputable financial institution approved by MMA or the relevant financial regulatory authority in the country of issuance, in accordance with Form 2 in Annex II of the Bidding Documents, and valid for 150 (One hundred and Fifty) calendar days beyond the Bid Opening Date (hereinafter referred to as the “Bid Security”).

2)         Clause 7 of the IFB is to be amended as follows:

3)      Clause 4.1 of the Instructions to the Bidders (ITB) is to be amended as follows:

“4.1. This Invitation for Bids is open to local individuals, partnerships, companies and foreign entities eligible to invest in this sector under class code I2 & I4 of the Foreign Direct Investment Policy. Individuals submitting Bids shall be at least 18 (Eighteen) years of age on the Bid Opening Date.”

4)      Clause 12.1 of the ITB is to be amended as follows:

12.1 The Bidder shall submit a bank guarantee as bid security amounting to USD 50,000 (Fifty Thousand United States Dollars Only), issued by a reputable financial institution approved by MMA or the relevant financial regulatory authority in the country of issuance, in accordance with Form 2 in Annex II of the Bidding Documents, and valid for 150 (One hundred and Fifty) calendar days beyond the Bid Opening Date (hereinafter referred to as the “Bid Security”).

5)      Clause 22.3 of the ITBis to be amended as follows:

  For further clarification about the bid, please contact the Ministry by email [email protected]  before 1300 HRS, 2^nd March 2021.