The GPA wish to clarify certain comments that the press release about the Shipyard has engendered.
The transaction was handled by international public tender and what Government has approved is for the Navy and part of the BFJ administration building area to be relocated so that these areas could be added to the project site together with the Shipyard premises to derive maximum value from the investment.
The next steps are to negotiate and conclude on the concession agreement as the GPA is a shareholder in the concession agreement.
Some of the concerns raised will definitely be considered in the negotiations as the objective is to secure the national interest.
At the beginning of the solicitation process, the advertisement was broadcast in the local and international media outlets, inviting interested companies to submit proposals through a bidding process.
All the interested companies submitted proposals, and Rodman was the best evaluated offer.
Three companies, one each from the UK, Turkey and Spain submitted proposals and the process was handled by the PPP Technical Evaluation Committee of Government comprising stakeholders from all the relevant agencies including GPA, GPPA, MOFEA, GIEPA, MOTIRIE, MOJ, GRA and the PPP Directorate, in line with the Ports Act, GPPA Act and the PPP Operational Policy and Guidelines.
The main objective of the PPP concession is to attract the necessary investment to rehabilitate and improve the capacity of Banjul Shipyard to be able to provide ship repair facilities both for the local and international markets.
The main justification for attracting partnership for this venture is because the material resources and expertise required for the Shipyard project are not available locally.
Additionally, it would bring about knowledge and skills transfer, capacity to generate revenue and employment opportunities.
The project financing is innovative and beneficial in the sense that the GPA is both a Grantor of the concession and a shareholder in the business.