News / Alexandria hospital PPP project delayed again

Alexandria hospital PPP project delayed again

🕔 July 4, 2011

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Reuters reported last week that proposals for the Alexandria University Hospitals PPP Project were delayed until August the 15th:

The hospitals project was the furthest along, but bids submission has been delayed twice from its original March deadline until August 15 because of uncertainty in the wake of the popular uprising that toppled the government in February.
They Egyptian government is seeking for solutions in order to make the prohject still attractive:
Potential bidders have sought currency guarantees on the hospitals projects because the income would be in Egyptian pounds, while up to 40 percent of the costs would be medical equipment bought mainly from abroad using foreign currency.
Not only bidders are worried but banks are looking for sovereign gauaratees to ensure payments to the succesful bidder:
Some of the banks willing to finance are looking for a sovereign guarantee in terms of insuring the government will make its payments on time and, in case of termination of the contract, the termination compensation stated in the contract will be paid by the government," he said, speaking in an interview last week.
The Egyptian goverment sent tender documents to 10 pre-qualified consortia for the new Alexandria university hospitals, one of the country's pilot PPP projects. See list of prequalifed companies here.
IFC (financial), Mott Macdonald (technical) and Trowers and Hamlins (legal) are advising the government ont this PPP project.InfraPPP Middle East has learned that the Rod El Frag highway PPP project is on hold. The project will restart after the presidential elections.- Linkedin group
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