Finance Ministry is looking for consultants for sale of PSU land, buildings

11 Jun 2019 Editorial Team

A Request for Empanelment (RFE) has been reportedly floated by the Department of Investment and Public Asset Management (DIPAM) to empanel international property consultancy firms or firms engaged in transaction advisory services, asset monetisation or project management. July first is the last date for firms who find themselves eligible to apply. As reported, the selected firms will be engaged by DIPAM initially for one year, which can be extended for a period of two years.

Pre-bidding meeting: Will be held on June 19, 2019, at 03.00 pm (IST) in the Conference Hall of DIPAM (Room No. 515, 5th Floor, Block 14, CGO Complex, New Delhi).
Last date: July 1st, 2019, is the last date for firms who find themselves eligible to apply.
In case of any further queries: Interested firms could send send their queries to Jagdish Kumar, Deputy Director, DIPAM, Room No. 431, 4th Floor, Block 14, CGO Complex, Lodhi Road, New Delhi

Reports also indicate that the firms would lend a hand to DIPAM in order to prepare a strategy for monetisation for the land and building assets and conduct techno-economic feasibility studies of each of the assets, providing end-to-end transaction advisory services and ensuring completion of transactions. As indicated by DIPAM on its site, the scope of work would include, but not be limited to:

Preparation of Feasibility Reports for each of the assets identified.
Assist in finalising the model for monetisation.
Assist in finalisation of transaction structure.
Prepare the bid documents (Request for Proposal (RFP), Concession Agreement, Lease Agreements, Project Information Memorandum (PIM) for each project, etc).
Assist DIPAM in conducting the bid process.
Ensure completion of transaction i.e., ensure legal documentation for transfer of ownership, physical handover of the asset, up to the stage of transfer of funds into the Government’s Treasury is complete.

Firms with at least five transaction advisory projects in their portfolio in the last 10 years pertinent to monetisation of land and building can apply. Also, firms with experience in ReIT listing can apply. Also, entities – fulfilling the same experience criteria – regarding monetisation of property assets of reputed public/private organisations or public private partnership transactions would be eligible to apply.

As the finance ministry focuses on achieving the sell-off target of Rs 900 billion for 2019-20, it is looking at sourcing consultancy firms for their support towards selling land and building assets of public sector companies. The amount raised through sale of non-core assets would form part of the disinvestment proceeds.A Request for Empanelment (RFE) has been reportedly floated by the Department of Investment and Public Asset Management (DIPAM) to empanel international property consultancy firms or firms engaged in transaction advisory services, asset monetisation or project management. July first is the last date for firms who find themselves eligible to apply. As reported, the selected firms will be engaged by DIPAM initially for one year, which can be extended for a period of two years.Pre-bidding meeting: Will be held on June 19, 2019, at 03.00 pm (IST) in the Conference Hall of DIPAM (Room No. 515, 5th Floor, Block 14, CGO Complex, New Delhi). Last date: July 1st, 2019, is the last date for firms who find themselves eligible to apply.In case of any further queries: Interested firms could send send their queries to Jagdish Kumar, Deputy Director, DIPAM, Room No. 431, 4th Floor, Block 14, CGO Complex, Lodhi Road, New Delhi Reports also indicate that the firms would lend a hand to DIPAM in order to prepare a strategy for monetisation for the land and building assets and conduct techno-economic feasibility studies of each of the assets, providing end-to-end transaction advisory services and ensuring completion of transactions. As indicated by DIPAM on its site, the scope of work would include, but not be limited to:Preparation of Feasibility Reports for each of the assets identified.Assist in finalising the model for monetisation.Assist in finalisation of transaction structure.Prepare the bid documents (Request for Proposal (RFP), Concession Agreement, Lease Agreements, Project Information Memorandum (PIM) for each project, etc). Assist DIPAM in conducting the bid process.Ensure completion of transaction i.e., ensure legal documentation for transfer of ownership, physical handover of the asset, up to the stage of transfer of funds into the Government’s Treasury is complete. Firms with at least five transaction advisory projects in their portfolio in the last 10 years pertinent to monetisation of land and building can apply. Also, firms with experience in ReIT listing can apply. Also, entities – fulfilling the same experience criteria – regarding monetisation of property assets of reputed public/private organisations or public private partnership transactions would be eligible to apply.

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