1. The entity will submit bid documents to the Ministry of Finance (MoF) for approval. Upon the approval of the MoF, the entity will proceed with:
- Issuance of the prequalification notice for the public-private partnership project;
- Prequalification and shortlisting of bidders;
- Issuing a request for proposals which shall include the approved draft public-private partnership agreement;
- Carrying out negotiation with the bidders to the extent identified in the request for proposals and to the extent permitted;
- Receiving bids;
- Evaluating all bids received in accordance with the evaluation criteria and evaluation procedure identified in the request for proposals;
- Selecting the preferred bidder; and
- Undertaking any related matter.
2. Following evaluation of the bids but before selection of a preferred bidder pursuant to a tender process commenced by the entity, the entity shall submit a report in respect of the evaluation procedure for selection of the preferred bidder to the Central PPP Unit for approval by the MoF.
3. The MoF approves the evaluation of the bids if it is satisfied that the process for evaluation of the bids demonstrates that the bid from the preferred bidder:
- Is consistent with the feasibility study, or any approved revised feasibility study;
- The bid from the preferred bidder:
- Has scored the highest points in accordance with the evaluation criteria and evaluation procedure identified in the Request for Proposals;
- Is in the best interests of the state; and
- The entity has selected the preferred bidder in accordance with the evaluation criteria and evaluation procedure identified in the Request for Proposals.
4. The entity may not, under any circumstances proceed with negotiations with the preferred bidder and the finalization of a public-private partnership agreement with the preferred bidder unless approval is granted by the MoF.