The Light Rail Transit Authority (LRTA) is set to bid out the PhP 1.33 billion contract for the maintenance of the LRT 2 operating between CM Recto Avenue and Santolan Street along the Marcos Highway. The bidders are required to submit a bid security of PhP 26.62 million if the amount is in the form of cash, a cashier’s or manager’s check, a bank draft or guarantee, or an irrevocable letter of credit. Alternatively, they can submit PhP 66.55 million if the bid security is in the form of a surety bond. The LRTA further requires the bidder to be successfully involved in the maintenance of a system similar to the LRT 2 system for a total of 15 years during the immediately preceding 20 years. Similarly, a prospective bidder must have completed, within the last 10 years from the date of bid submission, at least a single contract that is equivalent to at least 50 per cent of the approved budget for the contract. The LRTA has given interested bidders until July 30 to submit their bids for the maintenance of LRT 2.
