Hire a Legal Consultant to Support the International Finance Corporation (IFC) in... Tender

Procurement Summary

Country : Costa Rica

Summary : Hire a Legal Consultant to Support the International Finance Corporation (IFC) in Costa Rica in the Context of the Caldera Port PPP project

Deadline : 03 Mar 2023

Other Information

Notice Type : Tender

TOT Ref.No.: 78558388

Document Ref. No. : 1284004

Competition : ICB

Financier : World Bank (WB)

Purchaser Ownership : Public

Tender Value : Refer Document

Purchaser's Detail

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Tender Details

Expression of Interest are invited for Hire a Legal Consultant to Support the International Finance Corporation (IFC) in Costa Rica in the Context of the Caldera Port PPP project.

IFC has signed a transaction advisory services agreement (TASA) with INCOP, which is pending to receive the clearance from the Republic General Comptroller of Costa Rica (CGR) to become valid and formalize the engagement. IFC shall not start the work related to this selection process until INCOP receives the clearance of the CGR.

The Transaction Advisory Department (CTA) in Public Private Partnerships of the International Finance Corporation (IFC or the Purchaser) has been approached by the Instituto Costarricense de Puertos del Pacifico (INCOP or the Client) to act as lead advisor in the structuring and implementation of a new concession for the modernization and expansion of Caldera Port located in the Puntarenas Province of Costa Rica or the Project.
Caldera Port (the Port), located in Costa Ricas Pacific coast is well positioned geographically and performs well given the infrastructure and equipment currently available, which allowed for traffic growth in recent years at an average rate of 2.1% over the past 5 years and reaching 4.8 million tons of general cargo and 300, 000 TEUs in 2020. However, the port has reached its capacity on several fronts:

(i) shortage of berthing capacity; (ii) insufficient storage capacity; (iii) increasing congestion that affects operational efficiency; and (iv) limited capacity of access doors and scales and absence of a parking area for heavy vehicles.

Given the above constraints and aiming at meeting future growth demands and improving the competitiveness of the Port, the IFC is supporting INCOP in structuring and bidding a new concession to an experienced private port operator that will be responsible for designing, financing and building new infrastructure, invest in new equipment, and operate and maintain the Port. The tender will have to comply with the Costa Rica General Concession Law for Public Works with Public Services (the Concession Law). The investments are expected to be in line with the updated 2020 Pacific Coast Port Master Plan that was developed considering the existing capacity, the future capacity requirements, and the current and potential bottlenecks of the port; however, it will be further assessed during due diligence.
Three concessions are currently operating within the port: one for the operation of the three berths; a second one for the management of the bulk area; and a third one for tugboats. All three concessions are due to expire in 2026.

The IFCs advisory mandate will be implemented in two consecutive phases:

Pre-investment (Phase I) Due diligence, transaction structuring, and preparation of bidding documents: It will start by determining the viability of the project. During this phase, prefeasibility and feasibility studies will be conducted covering different areas including market, engineering design, tariff analysis, climate change impact, legal, financial and E&S due diligence (including a gender assessment) to define a viable transaction structure. This phase is estimated to last 19 months but could be extended if significant gaps are found that will require undertaking additional complementary studies. This phase will also include the market sounding, prequalification of potential bidders, and drafting of the bidding documents including the concession contract.

Implementation (Phase II) Bidding stage and awarding: It will start after the approval of the project feasibility and legal documentation. This phase will include the promotion of the project, the implementation of the bidding process, and the selection of the new private operator. This phase is estimated to last 24 months including all associated reviews and approvals by the Government of Costa Rica (GoC).

Documents

 Tender Notice