Following the suspension of the runway restoration tender mid-April, Tocumen Airport made changes to the financial, technical, and experience requirements in the tender documents. Panama’s main airport also set a new date for the submission of proposals.
The suspension, ordered by the General Directorate of Public Procurement (DGCP), was the result of a complaint filed by lawyer José Aranda Ríos, who found inconsistencies in the requirements requested by Tocumen, which could potentially limit the participation of interested companies in the tender.
The contract with a reference price of USD 52.4 million has generated interest from over 25 companies, including construction companies, engineers, (legal) consultants and others.
Main changes
The main changes compared to the original tender text are the following:
Proposal submission date
The proposal submission date was April 24th and is now May 5th 2025.
Experience
The main consortium member must prove that it had a 50% or greater stake in two design and construction projects at international airports, for an amount exceeding $50 million. The original text was unclear about what the 50% stake referred to.
Furthermore, the contractor must prove that it had a 50% or greater stake in the placement of 80,000 tons of hot-mix asphalt at airports over the past 15 years. In the first specification, the required number of tons was 85,000.
Bank financing letter. Tocumen reduced the percentage of financing that bidders must provide in the financing letter of a recognized banking institution part of the bidder’s financial proposal. Instead of100% of the project value, that percentage has been reduced to 90%. The remaining 10% will have to be covered from own funds of the selected contractor.
Bank reference letter
The company must have a seven-figure balance or line of credit for the last three months prior to the proposal submission date. The original text did not specify the time period or calculation of the seven figure balance.
Financial Statements
Financial Statements: companies will be able to submit financial statements for 2022, 2023, or 2024, audited and certified by an independent certified public accountant. The original text was unclear about the year.
Equipment and materials
Equipment and machinery that the selected contractor must use cannot exceed 10 years of use, and 15 years in the case of asphalt plants. The original specifications did not stipulate the maximum age of the equipment.
Laboratory certification
Companies must now have two laboratories accredited by the National Accreditation Authority and/or its counterpart duly recognized by national entities.
New text of the tender for the study, design, rehabilitation and maintenance of runways and taxiways at Tocumen International Airport – 2025-2-02-0-08-LV-011990 (Panama Compra)