Proinversion extends Olmos bidding to Oct.21

Monday, July 8, 2002

Peru's privatization agency Proinversion has extended the bidding deadline for the Olmos irrigation and hydroelectric project in Peru's Lambayeque department to October 21, Proinversion said in a statement.

Interested companies/consortia have until August 5 to purchase pre-qualification guidelines, said Proinversion, adding the government has increased its share of project financing to US$77mn from US$40mn.

A winner is scheduled to be announced November 11 and would operate the project under the terms of a 40-year concession.

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In May China Electric Power Technology Import & Export Corporation (CETIC) and a Peru-Ecuador-Argentina consortium of Construccion y Administracion-Hidalgo & Hidalgo-CONIVIAL purchased pre-qualification guidelines.

The seven companies already pre-qualified are: Sweden's Skanska, Italy's Impregilo, Brazil's Norberto Odebrecht, Argentina's Jose Cartellone, Hispano-German consortium OHL-Zublin, and France's Suez, GTM Dumez and Bouygues.

The project entails pulling water from the Huancabamba River, whose US$300mn first phase is estimated to take 4-5 years and would benefit close to 60,000ha and generate 2,400GWh/year.