No bids submitted for Expominas II PPP
The state of Minas Gerais (Brazil) has not received any bid to develop the Centro de Eventos da Gameleira PPP project.
The tender process for the project was issued in September. Interested parties had to submit their proposals on or before 29 October 2014. However the tender did not attract any bidder.
The infrastructure project, which would be located in Belo Horizonte, is also called Expominas II. The multipurpose exhibition centre would have an area of 34,000 square meters and the convention center would have 19,000 square meters with capacity for 6,000 people.
The concession contract would involve the design, build, operation and maintenance of the convention centre for a period of 33 years.
The project cost is estimated at R$400 million (US$173 million), of which R$127.6 million (US$52 million) will be for the implementation of a multipurpose exhibition centre and a convention centre. The value of the concession is estimated at R$728 million (US$315 million).
The Development Bank of Minas Gerais SA (BDMG) was authorized to conduct feasibility studies to analyze the PPP model. BDMG hired Albino Advogados Associados and PricewaterhouseCoopers Corporate Finance & Recovery Ltda. to support the development of the feasibility studies.
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