Latest update January 6th, 2025 4:00 AM
Lone contractor bids $180M more than Engineer’s estimate for Mon Repos Market project
Kaieteur News – The only contractor that submitted a bid to complete phase three of the Mon Repos Market construction project has proposed to do the job for $180 million more than the engineer’s estimate which is set at $438.6 million.
The Mon Repos market when works were ongoing back in June this year.
During the opening of tenders yesterday at the National Procurement and Tender Administration Board (NPATB) office, it was revealed that for the Ministry of Local Government and Regional Development project, the lone contractor, Vals Construction placed a bid of $619,068,835 to do the job.
As reported in the media, the upgrade to the Mon Repos Market began back in 2020 and is all part of the Government’s initiative of improving the environment for business. It was reported that back in December 2020 the Ministry had taken the decision to upgrade the facility after learning of its dilapidated state. Back then rehabilitative works began on the drainage system within the market. The Ministry had mentioned that it would be rehabilitating fences, roofs, and creating bigger washrooms with much better service at the market.
Following that, in November 2021, a contract was awarded to Mohamed Rahim and Sons to rehabilitate the market to the tune of $63 million. However, works commenced in February 2022 after the ministry had constructed a temporary facility for vendors to ply their trade. Works on the market were expected to be completed within seven months. It is unclear of the status of works at the East Coast of Demerara market but now the ministry is in the process of contracting another contractor for phase three of the project. Kaieteur News understands that the plan for the market is to construct a steel frame structure which would remove the wooden shacks that are within the facility. Just like the Mon Repos Market, the ministry is also slated to rehabilitate the Charity and Parika markets.
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