Govt. to retender airport hotel project

Friday, 11 August 2017 00:00 - - {{hitsCtrl.values.hits}}

Initial investor pulls out
George Steuart Engineering wins contract to construct New Extension to Navigational Services Complex

By Chathuri Dissanayake

The Government yesterday approved two proposals by the Transport and Aviation Ministry to develop the Bandaranaike International Airport in Katunayake.

The Ministry sought approval from Cabinet to invite proposals from prospective investors to establish and operate an airport hotel on land belonging to BIA Katunayake. The project is to have 100 rooms at its commencement with expansion capability, a sports and recreation facility, a business centre and conference and convention facilities.

The project was initially announced in October 2016 to set up two airport hotels on two blocks of land owned by AASL, granting a 40-year lease on the land. The announcement received successful bids from ECM Libra Financial Group Berhad, Malaysia and TP Real Estate Holdings Pte Ltd. Singapore. However, upon being informed of the intention to award the contract to the bidder, ECM Libra Financial Group Berhad has revealed its decision not to go ahead with the project, requiring the Ministry to retender the project. Cabinet approval was granted to award the contract for a New Extension to the Navigational Services Complex Building at BIA to the lowest evaluated bidder, George Steuart Engineering Ltd. at a total recommended cost of Rs. 201,391,050.95.

The value includes 5% for price escalations and 10% for value contingencies. The company was successful out of four bids for the project, following a call for tenders in January.

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