Contractor Selection Procedure for Sofia's Winter Palace Reconstruction Halted

Business | September 2, 2014, Tuesday // 16:37
Bulgaria: Contractor Selection Procedure for Sofia's Winter Palace Reconstruction Halted Photo by topsport.bg.

The contractor selection procedure for the reconstruction of the Winter Palace of Sports in Sofia for BGN 41M VAT excluded has been terminated by the contracting authority Academica 2011.

The new management of the state-owned company has motivated its decision with the unreasonably high estimated value of the contract and the missing funds in the company needed in order to carry out the repair, Dnevnik reports.

According to the decision to terminate the procedure, some 20% of the BGN 35M estimated by the government, has not been allocated and is not available in the company.

"For the implementation of the project in terms of the estimated value, approximately BGN 50M VAT included will be needed. The allocation of the rest of the funding is not guaranteed in any way and there is no certainty that the missing funds will be granted in the future,” a statement of the company said, as cited by Dnevnik.

Academica Sport, which includes Stanilov Ltd and Vamos, was one of the two participants who were not admitted to the opening of the price offers due to documentation irregularities.

"Of all those, whose documents were open, we had the best price. Obviously, that was the reason to reject us. That was completely unfounded, but we will turn to courts," Georgi Stanilov, manager of Stanilov Ltd told Capital Daily.

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Tags: Winter Palace, Academica 2011, renovation, contractor selection

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