Delayed participation in North Port Redevelopment Project by private companies

The bid for facilities relocation came to an end on September 18th with no companies bidding. BPA expected multiple companies to bid for the project because construction companies expressed a great deal of interest in the project despite the international financial crisis and housing market slow-down.

BPA said that given the difficulties, companies are preparing for revised plans for land use and organizing consortiums in a relatively short period of time. It appears that companies are delaying their bids for the next round. Though bidding ended with no bidders, the time-table is unlikely to be affected because project construction starts in 2013 after the site is cleared.

BPA said that there is no reason to be concerned about delays because the site will be fully prepared for construction by 2015 in cooperation with the central government and the next bid will take place after simultaneously reviewing ways to secure the public good and profitability.