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BCDA: MPI can’t stop SCTEX price challenge

12 Dec

BCDA President Arnel Casanova said MPI would have no grounds to stop a so-called price challenge on its SCTEX operation contract because challengers will be bidding on exactly the same contract Metro Pacific signed.

Casanova said what the agency can’t grant Metro Pacific is the company’s requirement that the terms of the price challenge have its approval.

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BCDA published the terms of reference Thursday and MPI reiterated its concerns, including its position that the terms of any Swiss challenge “shall be agreed by BCDA and MNTC.” Challengers have to outbid MPI’s P3.5b upfront payment.

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Posted by on December 12, 2014 in Corporate News, MPI, Stock Market

 

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