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23 March, 2015 09:24 AM Source: Financial Times - Sri Lanka

Access Engineering Plc (AEL) has issued a disclosure to the Colombo Stock Exchange (CSE) explaining its position in relation to the Government’s annulment of $ 85 million tender for a runway overlay and associated work at the Bandaranaike International Airport (BIA).
AEL said that whilst respecting the decision taken by the Cabinet of Ministers, the disclosure was for the purpose of further clarity. The following is the statement of disclosure.
Access Engineering Plc (AEL) is a responsible, civic conscious business enterprise operating in full compliance with the rules and regulations pertaining to a public company listed on the Colombo Stock Exchange. AEL values as well as practices transparency and principles of good governance in all its dealings and transactions.
Initially, for the execution of the works encompassed under the captioned project, a tender was published in the local newspapers in January 2013 to requesting for Proposals (RFP) with funding arrangements.
Two bids were received pursuant to the aforesaid RFP from two international contractors, namely M/s. Lagan Construction Ltd. of Northern Ireland and M/s China Harbour Engineering Company Ltd. of China where the financial bids were opened on 27 May 2013.
The following local contractors attended a meeting called by the Secretary, Ministry of Finance on 11 and 13 December 2013: Nawaloka Construction Company, Maga Engineering Ltd., Tudawe Brothers Ltd., Sierra Construction (Pvt) Ltd., Access Engineering Plc.
The contractors present were informed that the GOSL has decided to use local bank finance to carry out work with respect to the above project and the tender called in January 2013 for carrying of the project where finance was from overseas, would not be pursued. At this meeting, the local contractors expressed that they would not possess the required experience and would not meet with the required pre-qualification to carry out this work.
The local contractors were informed that they could collaborate with foreign contractors to meet with the relevant pre-qualification and experience criteria and was invited to submit their proposals.

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