Panama: Bids for ITSE Around $180 million

For the construction of the Higher Technical Institute of the East (ITSE by its initials in Spanish) the consortium CCA bid $176 million, consortium ITSE bid $181 million, Infrastructure Acciona $189 million, and FCC-ITSE Consortium $190 million.

Friday, May 13, 2016

In the separate assessment of the technical and economic proposals, CCA scored 983 points, followed by ITSE Consortium (971.32), Acciona Infrastructures (946.10) and FCC-ITSE (922.34 points).

Another four bidders took part in the competition, but their proposals were rejected for not meeting the stipulated requirements. Among these companies was Brazil's Odebrecht, whose bid was $233 million, which was described as onerous and discarded for exceeding by 20% the reference amount established in the tender, which was $179 million.

See: Tender: Construction of Educational Infrastructure

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