Contact: Corporate Communications Unit, 627-0083
March 12, 2009
The Urban Development Corporation of Trinidad and Tobago (UDeCOTT) wishes to clarify inaccuracies which were listed in a story carried in a daily newspaper dated March 11, 2009 regarding the Ministry of Education Towers.
The article incorrectly states that the contractor on the project, the Shanghai Construction Group (SCG), “was allowed to bid for the project as part of the conditions of a loan from the Chinese Government,” quoting what it alleged were statements from UDeCOTT’s Executive Chairman, Calder Hart. Such a statement is untrue.
In a separate and unrelated project altogether, SCG was the firm nominated by the Government of the Peoples Republic of China, to undertake works on the Academies for the Performing Arts under the terms of a concessionary loan – US$100 million at 2% for 15 years with a 5 year moratorium and the terms of the loan requires the participation of a Chinese company in the implementation of the project.
In respect to the Ministry of Education Towers bids were invited from eight (8) suitably qualified firms for a project of this scope and six tendered, with SCG being the lowest tenderer.
The bids were:
With the lowest bid, SCG was awarded the contract for $367,848,268.