Pune Metropolitan Regional Development Authority (PMRDA) has invited Request for Transaction Advisory Services for Pune Metro Line-4 and or Pune Metro Line-5 proposed to be implemented on the Public Private Partnership Mode.
- Tender Reference Number: 09 For FY 2023-2024 (2nd Call)
- Name of Work: Transaction Advisory Services for Pune Metro Line-4 and or Pune Metro Line-5 proposed to be implemented on the Public Private Partnership Mode.
- EMD: INR 1,50,000/-
- Completion Period: 24 Months
- Document Download Start Date: 25th Nov, 2023
- Document Download End Date: 15th Dec, 2023
- Pre-bid Meeting: 04th Dec, 2023
- Bid Submission Start Date: 25th Nov, 2023
- Bid Submission End Date: 15th Dec, 2023
- Bid Opening Date: 16th Dec, 2023
General:
The PMRDA has received the Detailed Project Report (“DPR”) for the Pune Metro Line 4 – Shivajinagar to Loni Kalbhor and spur to Saswad and Swargate from the Delhi Metro Rail Corporation (the “DMRC”).
Further, the Maha-Metro has undertaken the activity of preparation of Detailed Project Report (“DPR”) for the Pune Metro Line-5 (Khadakwasla to Kharadi). The stretch from Swargate-Pulgate-Hadapsar (Magarpatta) is common between the two Metro Lines.
In order to address the issue of development of the common stretch, the PUMTA in its meeting directed PMRDA to appoint a Transaction Advisor (TA). The Transaction Advisor is required to evaluate modality of development of the Metro Lines (PPP/EPC) and shall take into consideration the financial feasibility, risk to the Government, convenience for citizens (fare, interchanges etc.) etc. and then make a recommendation to the Authority.
Scope of Services:
Transaction Advisory Services:
- The Consultant shall be guided in its assignment by the Model Concession Agreement (the“MCA”) and the Manual of Specifications and Standards for Metro Rail Projects published by Planning Commission, Government of India (the “Manual”) and the Concession Agreements of other PPP Metro Rails in the country (the Mumbai Metro Line 1, the Hyderabad Metro and the Pune Metro Line 3).
- The Consultant shall be responsible for preparing the relevant Schedules of the Concession Agreement and for bringing out any special feature or requirement of the Project referred to in the Concession Agreement or the Manual.
- The Consultant shall assist the Authority by furnishing clarifications as required for the structuring, documentation and award of the Project.
- The Consultant shall also participate in the pre-bid conferences with the Bidders of the Project and assist the Authority in clarifying the financial and other aspects related to the project.
- The Consultant shall make available the Key Personnel to attend and participate in meetings, conferences and discussions with the Authority/ Concessionaire/ other Government bodies and shall otherwise advise on and assist the Authority in the diverse commercial issues that may arise from time to time.
- The Consultant shall assist the Authority during the Conditions Precedent period of the Concession Agreement.
- Evaluation of the strategic objectives of the Authority in relation to the Project and advising on the commercial, legal and capital structuring, especially with reference to Applicable Laws;
- Review technology, design and cost estimates contained in the Detailed Project Report and submit a detailed report on the review of the DPR;
- Conduct market demand assessment of real estate component in the project as well as identify land required for monetization or any other purpose;
- Collection, compilation and analysis of relevant financial data relating to all costs (including taxes -both construction and operations) and revenues (both fare box and non-farebox);
- Prepare areasonable estimation of the likely direct and indirect revenues, covering user charges, real estate linked revenues, advertisement revenues etc;
- Prepare a comparative for different models being exercised by different Authorities based on best practices elsewhere;
- Assisting the Authority in identification of project risks and in allocation of the same in an efficient and economic manner;
- Facilitate the Authority in conducting workshop of key stakeholders including the financiers for better understanding of structure and risk analysis;
- Assist the Authority and selecting the best alternative based on all the risks put together;
- Identification and quantification of estimated financial impact covering fiscal commitments and contingent liabilities (FCCL) of the Project on Authority and government resources;
- Development of various possible alternatives for revenue maximisation and preparation of Revenue Model for the Project;
- Advising on tax-related and legal issues arising out of the Project structuring; prepare and draft the Concession Agreement; the Consultant shall prepare the Concession Agreement including the relevant Schedules of the Concession Agreement including Technical specifications;
- While drafting the CA, the Consultant shall evaluate and compare the Model Concession Agreement (Planning Commission) as well as the Concession Agreement of Reliance-MMRDA Metro, Hyderabad Metro, PML3;
- Preparation of a consolidated list of approvals/consents/clearances required from Government Instrumentalities; and prepare Bid documents (RFQ and RFP);
- Assist the Authority in the entire bidding process including replying to various queries raised by the bidders, amendments to RFP and draft CA (CSC and CSD),
- Technical evaluation of bids received, opening of financial and technical envelopes, issuance of LOA up to the signing of the Concession Agreement.
- Assist the Authority during the Conditions Precedent period after signing the Concession agreement with the Concessionaire;
- All works of the Concessionaire should be in line with the guidelines of the Central and State Government including but not limited to the New Metro Rail Policy, 2017, the VGF Guidelines, Technical Guidelines as issued by various Ministries in relation to Metro Rail;
- The Consultant shall assist in the VGF process including preparation of documents, formats and annexures to be submitted to the Central Government (inhardcopies) and drafting of answers to the queries raised by various Ministries;
- Attend meetings in PMRDA, Mantralaya (Mumbai), various Ministries and Departments in New Delhi, visit to Hyderabad and Mumbai in the respective PPP projects;
- Prepare various strategy presentations/concept notes as sought by the Authority from time to time;
- In making its projections, recommendations and Reports, the Consultant shall identify the underlying assumptions and reach an agreement with the Authority in relation thereto. The services to be rendered by the Consultant are briefly explained in the later points.
- The Consultant shall also consider proposals of double decker flyovers proposed by various Government agencies along the alignment and shall recommend whether such double decker flyovers will lead to variation in ridership estimates. The scope Includes traffic & passenger surveys–willingness Survey for this proposed double decker flyovers.
- The consultant will be required to assess on the requirement of real estate to make the Project feasible and shall provide necessary justifications for the same.
- Furthermore, after such a requirement is established the Consultant shall propose various land parcels / real estate so that Authority can initiate the land acquisition process.
- Although the Real Estate Assessment Report has been removed as a separate deliverable, the Consultant shall consider all financial implications of the same in the Reports.
Transaction Advisor:
The Consultant shall be responsible for review of the financial parameters and examination of the viability of the Project. The Consultant will also render advisory services for preparation of Concession Agreement, Bid documents (RFQ and RFP) including the relevant Schedules of the Concession Agreement and in conducting the bidding process for selection of the Concessionaire for the project.
The Consultant shall also maintain, update and disseminate the necessary data and information related to the Project and the bid process. During interaction with the bidders and stakeholders, the Consultant shall assist the Authority in responding to all queries satisfactorily and within the specified time. The Consultant shall render advisory services up to the signing of the Concession Agreement and assist during the conditions precedent period of the Concession Agreement.
Review of the Detailed Project Report:
The Consultant shall review the Detailed Project Report for the PML4 prepared by DMRC and PML5 DPR prepared by UMTC and comment on the technical aspects of the Project.
The review will cover assessment of the scope of the Project in accordance with the identified service need; assess the technical feasibility covering output specifications, appropriateness of technology, technical and operation practicality, life cycle costs for major components and other matters related to the technical aspects of the Project and recommend areas of improvement.
Eligibility:
Applicants must read carefully the minimum conditions of eligibility (the “Conditions of Eligibility”) provided herein. Proposals of only those Applicants who satisfy the Conditions of Eligibility will be considered for evaluation as elaborated herein:
The Bidder must be amongst the “Empanelled Transaction Advisors for Public Private Partnership Projects by the Department of Economic Affairs, Ministry of Finance, Government of India vide Notification dated 01/07/2022 bearing F.No.2/3/2021-PPP”
If the bidder is not empanelled with the DEA, GoI, it shall be required to fulfil the criteria mentioned below:
- Must have provided transaction advisory services to at least one Project of minimum Rs.200 cr in the similar PPP projects in the past 10 (Ten) years in the Transport Sector preceding the PDD. Projects like Roads, Railways, City Buses, BRTS, Light Rail, Monorail, Suburban Rail and Metro will be considered under the Transport Sector.
- Average turnover in the last three financial years should be more than Rs.10 cr.
The Bidder shall not use the credentials of the Associate company for meeting the technical and financial criteria laid down in this RFP. For the purposes of this RFP, the word “Associate” is defined under Clause 2.1 of this RFP.
The Bidder should not have been blacklisted/debarred/declared in eligible for award of contract by any Government / Government undertaking/ Semi Government / Govt. Controlled Institutions/Projects in India, during the last five (5) years.
Also, the Bidder should not have rescinded or defaulted on the Services after award of the Contract during the last five (5) years from the date of opening of the Tender. The Bidder shall provide an undertaking as provided in this RFP.
The Bidder if they want to act through their representative or individual partner(s) should submit along with the Tender, a Power of Attorney as in Form 4 of Appendix-(1) duly stamped and authenticated by a Notary Public or by a Magistrate in favour of the specific person whether he/they be partner(s) of the firm or any other person specifically authorising him/them to submit the Tender, sign the Agreement, receive money, compromise, settle, relinquish any claim(s) preferred by the firm and sign ‘No Claim Certificate’ and refer all or any disputes to arbitration.
Sale of document, e-payment procedure, submission and other details are available on MAHA-Metro (Nagpur) E- tender portal under section in e- tenders. https://mahametrorail.etenders.in
Source: Pune Metro- Tender | Image Credit (representational): Pune Metro
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