Development of 22 Bus Terminals with Commercial Facilities in Gujarat on DBFOT Basis Background: Gujarat State Road Transport Corporation

(GSRTC) has decided to undertake the development and operation/maintenance of 22 bus terminals in Gujarat on Design, Build, Finance, Operate and Transfer (DBFOT) basis. Brief particulars of the Projects are as follows: Indicative Indicative Estimate Bus Commerc d Terminal ial Project Facility Facility Cost (In Cost (In Cost (In Rs. Cr) Rs. Cr.) Rs. Cr.) 22.06 68.71 90.77 9.31 50.61 59.94 3.89 29.49 33.38 11.78 35.87 47.65 4.56 7.94 12.50 1.76 6.62 8.38 9.33 44.94 54.27 2.93 28.69 31.62 1.26 9.82 11.08 1.05 4.15 5.20 1.40 5.24 6.64 4.29 6.27 10.56 1.95 1.67 3.62 5.11 16.25 21.36 1.14 1.28 2.42 6.21 11.66 17.87 5.76 12.89 18.65 1.44 4.66 6.10 1.68 2.72 4.40 3.09 5.94 9.03 2.70 6.58 9.28 4.03 1.05 1.26 1.76 1.95 6.21 1.68 4.03 11.38 4.15 9.82 6.62 1.67 11.66 2.72 11.38 15.41 5.20 11.08 8.38 3.62 17.87 4.40 15.41

Project Group

Name of the Bus Terminals Junagadh Jamnagar Porbandar Bhavnagar Amreli Dhari Rajkot Dhandhuka Dhanera Damnagar Kadodara-Surat Surendranagar Naliya Bharuch Nakhatrana Navsari Patan Nadiad Pardi Dabhoi Bhuj AnandSamarkha Damnagar Dhanera Dhari Naliya Navsari Pardi AnandSamarkha

Site Area (In Sq.mts ) 56961 17622 13826 27404 17095 15670 42888 15188 29186 5184 5500 20083 8788 21593 4717 29510 15974 19814 8094 27745 12546 38580 5184 29186 15670 8788 29510 8094 38580

A B

D E F

Exceptio nal Site

The bus terminals for the purpose of implementation have been bundled into groups. However for certain sites (Exceptional Site) like Damnagar, Dhanera, Dhari, Naliya, Navsari, Pardi and Anand- Samarkha individual Proposal/Bid is also acceptable.

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Development of 22 Bus Terminals with Commercial Facilities in Gujarat on DBFOT Basis The objective of bundling was based on geographical advantage as well as in case of exceptional sites, as per our demand assessment, there will not be many takers, as the return from these sites are quite low for the project to be viable individually. Thus the sites are bundled in such way that GSRTC shall avail maximum premium from the bidding process.

Concession Period for Bus terminals: 5/ 10/ 15 years after COD Concession Name of the Bus Project Period Terminals (No of years) Junagadh 15 A Jamnagar 15 Porbandar 10 Bhavnagar 15 B Amreli 10 Dhari 5 Rajkot 15 Dhandhuka 10 C Dhanera 5 Damnagar 5 Kadodara-Surat 15 D Surendranagar 10 Naliya 5 Bharuch 15 E Nakhatrana 5 Navsari 5 Patan 15 F Nadiad 10 Pardi 5 Dabhoi 15 G Bhuj 10 Anand-Samarkha 5 Damnagar 5 Dhanera 5 Dhari 5 Exceptiona Naliya 5 l Sites Navsari 5 Pardi 5 Anand- Samarkha 5 A Bidder may choose to bid/submit Proposal for one or more of the Projects using any of the following two ways: A. Proposal for Project Group: Bidders shall be required to provide total and site wise break up in the financial quote B. Proposal for single Bus Terminal: Bidders may submit a Proposal for a single Bus Terminal for any of the sites mentioned under exceptional site Any Bidder, bidding for a Project Group shall not be allowed to bid/submit proposal for single Bus Terminal of the same group separately and viceversa. Brief description of bidding Process:

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Development of 22 Bus Terminals with Commercial Facilities in Gujarat on DBFOT Basis Bidding Process E-tendering method, single stage two step online etendering process: 1. Technical Proposal 2. Financial Proposal RFP document Fee: The Bidders shall pay RFP Document Fee of Rs.25,000/- (Rupees Twenty Five Thousand Only) (non- refundable) for each Group if bidding for Group and Rs. 5,000/- (Rupees Five Thousand Only) (non-refundable) for each bus terminal if separate Proposal for Exceptional Site is being submitted; in form of demand draft from any Nationalized bank/Scheduled Bank in India in favour of GSRTC payable at Ahmedabad at the time of hard bound submission of Technical Proposal. Bid Process Fee: The Bidders shall make payment of bid processing fees of Rs.50,000/- (Rupees Fifty Thousand Only) (non- refundable) if bidding for Group and Rs.15,000/- (Rupees Fifteen Thousand Only) (nonrefundable) for each bus terminal under Exceptional Site. The Bidders shall pay bid processing fees in form of demand draft from any Nationalized bank/Scheduled Bank in India in favour of GSRTC payable at Ahmedabad at the time of hard bound submission of Technical Proposal. The Proposal shall be valid for a period of not less than 240 days from the Proposal Due Date Project development fees: The successful bidders will be required to submit one time non-refundable project development fees Rs. 15 lakh /for group and Rs. 2.5 lakh for each bus terminal under exceptional site. Proposal Security / Earnest Money Deposit (EMD)- The Bidder will be required to submit, along with its Proposal, a Proposal Security as mentioned in the table, refundable not later than 60 (sixty) days from the Proposal Due Date, except in the case of the selected Bidder whose Proposal Security shall be retained till it has provided a Performance Security under the Concession Agreement. Project A B Name of the Bus Terminals Junagadh Jamnagar Porbandar Bhavnagar Amreli Dhari Rajkot Dhandhuka Dhanera Damnagar Kadodara-Surat Surendranagar Naliya Bharuch Total of Group (In Rs. Lakhs) 35.00 18.00

14.50

D E

7.50 12.50

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Development of 22 Bus Terminals with Commercial Facilities in Gujarat on DBFOT Basis Total of Group (In Rs. Lakhs)

Project

Name of the Bus Terminals

Nakhatrana Navsari Patan F Nadiad Pardi Dabhoi G Bhuj Anand- Samarkha Damnagar Dhanera Dhari Exceptiona Naliya l Site Navsari Pardi Anand- Samarkha Note * - the proposal security is calculated as 1% of the

9.00 10.00 1.05 1.25 1.75 1.95 6.25 1.65 4.00 BTF Cost

The Proposal shall be summarily rejected if it is not accompanied by the Proposal Security. Validity period of the Proposal Security draft or bank guarantee shall not be less than 300 days from the Proposal Due Date, inclusive of a claim period of 60 (sixty) days

The Selected Bidders Proposal Security will be returned, without any interest, upon the Concessionaire signing the Concession Agreement and furnishing the Construction Performance Security in accordance with the provisions of the draft concession agreement. The Authority may, at the Selected Bidders option, adjust the amount of Proposal Security in the amount of Construction Performance Security to be provided by him in accordance with the provisions of the Concession Agreement. The Construction Performance Security to be furnished by Selected Bidder on or before signing the Concession Agreement. The Construction Performance Security shall be valid till the date of construction completion after which 1/3 of the amount of Construction Performance Security will be converted in to Operations Performance Security and balance Construction Performance Security shall be returned to the Selected Bidder as per terms and conditions of draft concession agreement. The amount of Construction Performance Security shall be as indicated in the below table: Name of the Bus Terminals Junagadh Jamnagar Porbandar Bhavnagar Amreli Dhari C Rajkot Construction Performance Security (Rs. in Lakhs) 331.00 140.00 58.00 177.00 69.00 26.00 140.00

Project

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Development of 22 Bus Terminals with Commercial Facilities in Gujarat on DBFOT Basis Construction Performance Project Security (Rs. in Lakhs) Dhandhuka 44.00 Dhanera 19.00 Damnagar 16.00 Kadodara-Surat 21.00 D Surendranagar 64.00 Naliya 29.00 Bharuch 77.00 E Nakhatrana 17.00 Navsari 93.00 Patan 86.00 F Nadiad 22.00 Pardi 25.00 Dabhoi 46.00 G Bhuj 41.00 Anand- Samarkha 60.00 Damnagar 16.00 Dhanera 19.00 Dhari 26.00 Exceptional Sites Naliya 29.00 Navsari 93.00 Pardi 25.00 Anand- Samarkha 60.00 Note* - Construction Performance Security is calculated as 15% of the Total Project Cost Name of the Bus Terminals Selection of Bidder: Upfront Consideration shall constitute the sole criteria for evaluation of Bids. The technically pre-qualified bidder offering highest upfront consideration shall be the selected Bidder Upfront consideration payment may be in following instalments % of Total Milestone Upfront Form of payment Consideration In form of demand draft from After Issue of Letter of any Nationalized Award and before 25% bank/Scheduled Bank in India in signing of the favour of GSRTC payable at Concession Agreement Ahmedabad In the form of Bank Guarantee 75% from Nationalized/Scheduled Bank in India in favour of GSRTC The payment of Upfront Consideration in form of Bank Guarantee i.e. 75% payment will be encashed by GSRTC in 3 installments after completion every 6 (six) months from the date of encashment of last instalment. The schedule of encashment of Bank Guarantee may be extended to a maximum of 24 (twenty four) months from Agreement Date (i.e. date of execution of concession agreement), given that for every day of delay, Concessionaire shall pay to GSRTC compound interest at the annual Prime 5 |Page

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Development of 22 Bus Terminals with Commercial Facilities in Gujarat on DBFOT Basis Lending Rate of State Bank of India, which shall be computed on daily basis. If a Bidder is quoting only for the Exceptional Site, in that Scenario, the Quote for the Exceptional Site of that Bidder will be compared with the quote for that Exceptional Site of the Bidder who is quoting for the Group. In case the quote of a Bidder only quoting for the Exceptional Site is higher than the Bidder who is quoting for the Group, then the Bidder quoting only for the Exceptional Site will be awarded the Project (Exceptional Site only). Then the Bidders who had quoted the Highest Concession Fee in the Group (other than the Exceptional Site) will be awarded the Project of the Group (other than the Exceptional site) For Example: Group Site A Site B Site C (Exceptional Site) Bidder X 10 8 4 Bidder Y 11 6 5 Bidder Z 6

As per the above scenario, Site C (Exceptional Site) will be awarded to Bidder Z as he is quoting the Highest Concession Fee and for the remaining Sites i.e. Site A and Site B respectively, Bidder X is quoting 18/- and Bidder Y is quoting 17/thus the Group {excluding Site C (Exceptional Site)} will be awarded to Bidder X Schedule of Bidding Process: Milestones Download of RFP document Last date for receiving pre-proposal queries Response to pre-proposal queries through mail and/or uploaded on the website Last date of download of RFP document till 11.00 hours IST Due date for Online Submission of Technical Proposal and Financial Proposal on nprocure till 15.00 hours IST (Proposal Due Date) Due date for Submission of Technical Proposal in Hard Print copy by 17:00 hours IST. Opening of Technical Proposals Opening of Financial Proposals Letter of Award (LOA) Validity of Proposals Signing of Concession Agreement Dates (_________________) (_________________) (_________________) (_________________) (_________________)

(_________________) (_________________) To be informed separately to the Technically Qualified Bidders Within 30 days of Selection of the successful Bidder 240 days of Proposal Due Date Within 45 days of award of LOA

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Development of 22 Bus Terminals with Commercial Facilities in Gujarat on DBFOT Basis Eligibility of Bidders: The Bidder may be a single entity or a group of entities (the Consortium), coming together to implement the Project Where the Bidder is a single entity, it may be required to form an appropriate SPV, incorporated under the Indian Companies Act 1956 In case the Bidder is a Consortium, it shall, in addition to forming an SPV, comply with the following additional requirements: - Number of members in a consortium shall not exceed 4 (four) - The lead member shall have an equity share holding of at least 26% of the paid up and subscribed equity of the SPV. - Members of the Consortium shall enter into a binding Joint Bidding Agreement Technical Capacity: Bidder shall, over the past 5 (five) financial years preceding the Proposal Due Date, have: - paid for, or received payments for, construction of Eligible Project(s); and/ or - paid for development of Eligible Project(s) in Category 1 and/or Category 2 and/ or - collected and appropriated revenues from Eligible Project(s) in Category 1 and/or Category 2, such that the sum total of the above is more than the Threshold Technical Capability Threshold Technical Capability is taken as below: Project A Name of the Bus Terminals Junagadh Jamnagar Porbandar Bhavnagar B Amreli Dhari Rajkot C Dhandhuka Dhanera Damnagar Kadodara-Surat D Surendranagar Naliya Bharuch E Nakhatrana Navsari Patan F G Nadiad Pardi Dabhoi 60 70 85 40 150 100 Threshold Technical Capacity (In Rs. Cr.) 275

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Development of 22 Bus Terminals with Commercial Facilities in Gujarat on DBFOT Basis Name of the Bus Terminals Bhuj Anand- Samarkha Damnagar Dhanera Dhari Exceptional Site Naliya Navsari Pardi 5 11 8.5 7 36 9 Threshold Technical Capacity (In Rs. Cr.)

Project

Anand- Samarkha 31 Note * - Threshold technical capacity for Project Group A, B & C is calculated as 150% of the project cost, in case of Project Group D, E, F & G is calculated as 200% of the Total Project Cost (as per Model Documents Threshold Technical Capacity can be taken as 100% or 200% of the project cost based on the Capital Cost of the project. Provided that at least one fourth of the Threshold Technical Capability shall be from the Eligible Projects in Category 1 and/ or Category 3 The following categories would qualify as Technical Capacity and eligible experience Category 1: Project experience on Eligible Projects in real estate sector that will include bus terminals, residential, commercial and hotel complexes Category 2: Project experience on Eligible Projects in core sector that will include highways, power, telecom, ports, airports, railways, metro rail, industrial parks/ estates, logistic parks, pipelines, irrigation, water supply, sewerage and real estate development Category 3: Construction experience on Eligible Projects in real estate sector Category 4: Construction experience on Eligible Projects in core sector

For a project to qualify as an Eligible Project under Categories 1 and 2: (a) It should have been undertaken as a PPP project on BOT, BOLT, BOO, BOOT or other similar basis for providing its output or services to a public sector entity or for providing non-discriminatory access to users in pursuance of its charter, concession or contract, as the case may be. For the avoidance of doubt, a project which constitutes a natural monopoly such as an airport or port should normally be included in this category even if it is not based on a longterm agreement with a public entity; (b) the entity claiming experience should have held, in the company owing the Eligible Project, a minimum of 26% (twenty six per cent) equity during the entire year for which Eligible Experience is being claimed;

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Development of 22 Bus Terminals with Commercial Facilities in Gujarat on DBFOT Basis

(c) The capital cost of the project should be more than that mentioned in the following table Project Name of the Bus Terminals Minimum Capital Cost (In Rs. Cr)

Junagadh Jamnagar 36.00 Porbandar Bhavnagar 19.00 B Amreli Dhari Rajkot Dhandhuka C 22.00 Dhanera Damnagar Kadodara-Surat D Surendranagar 4.50 Naliya Bharuch E Nakhatrana 8.50 Navsari Patan F Nadiad 7.50 Pardi Dabhoi G Bhuj 6.00 Anand- Samarkha Damnagar 2.00 Dhanera 4.50 Dhari 3.50 Exceptional Naliya 1.50 Site Navsari 7.00 Pardi 2.00 Anand- Samarkha 6.00 Capital Cost of the project is calculated as 40% of the project cost of only the highest value site in the group. A (d) the entity claiming experience shall, during the last 5 (five) financial years preceding the Proposal Due Date, have (i) paid for development of the project (excluding the cost of land), and/or (ii) collected and appropriated the revenues from users availing of nondiscriminatory access to or use of fixed project assets, such as revenues from highways, airports, ports and railway infrastructure, but shall not include revenues from sale or provision of goods or services such as electricity, gas, petroleum products telecommunications or fare/freight revenues1 and other incomes of the company owning the Project.
1

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Development of 22 Bus Terminals with Commercial Facilities in Gujarat on DBFOT Basis

For a Project to qualify as an Eligible Project under Categories 3 and 4, the Bidder should have paid for execution of its construction works or received payments from its client(s) for construction works executed, fully or partially, during the 5 (five) financial years immediately preceding the Proposal Due Date, and only the payments (gross) actually made or received, as the case may be, during such 5 (five) financial years shall qualify for purposes of computing the Experience Score. However, payments/receipts of less than those mentioned in as per the above Table for the Group and / or Exceptional Site shall not be reckoned as payments/receipts for Eligible Projects. For the avoidance of doubt, construction works shall not include supply of goods or equipment except when such goods or equipment form part of a turnkey construction contract/ EPC contract for the project. Further, the cost of land shall not be included hereunder. Bidders experience shall be measured and stated in terms of a score (the "Experience Score"). The Experience Score for an Eligible Project in a given category would be the eligible payments and/or receipts, divided by one crore and then multiplied by the applicable factor in Table below. Category Category Category Category 1 2 3 4 Factor 1.50 1.00 0.75 0.25

In case the Bidder has experience across different categories, the score for each category would be computed as above and then aggregated to arrive at his Experience Score. Financial Capacity: The Bidder shall have a minimum Net Worth as below: Project A Name of the Bus Terminals Junagadh Jamnagar Porbandar Bhavnagar Amreli Dhari Rajkot Dhandhuka Dhanera Damnagar Kadodara-Surat Surendranagar Naliya Bharuch Nakhatrana Navsari Minimum (In Rs. Crores) 74.00 27.00

41.00

8.50

17.00

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Development of 22 Bus Terminals with Commercial Facilities in Gujarat on DBFOT Basis Name of the Bus Minimum Terminals (In Rs. Crores) Patan F Nadiad 12.00 Pardi Dabhoi G Bhuj 13.50 Anand- Samarkha Damnagar 2.00 Dhanera 4.50 Dhari 3.50 Exceptional Naliya 1.50 Site Navsari 7.00 Pardi 2.00 Anand- Samarkha 6.00 Note: - Net worth is calculated as 40% of the project cost (as per Model document) Project No Consortium Member shall have negative net worth The Bidder shall have positive net cash accruals during any three financial years preceding the Proposal Due Date.

O&M Experience: The Bidder shall, in the case of a Consortium, include a Member who shall subscribe and continue to hold at least 10% of the subscribed and paid up equity of the SPV for a period of 5 years from the date of commercial operation of the Project In the event that the Bidder does not have such experience, it should furnish an undertaking that it shall for a period of at least 5 years from the date of commercial operation, enter into an agreement for entrusting its O&M obligations to an entity having the aforesaid experience The Bidders exceeding the Threshold Score shall be short-listed and considered Technically Qualified. The Technically Qualified Bidders shall then be invited for the second step of opening of Financial Proposal.

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