South Korean firms warned for not meeting construction project requirements

By Dam Tuan   May 23, 2016 | 05:56 pm GMT+7

The Ministry of Transport has released a list of 26 bidders that were unable to meet some of the criteria for state-financed transport construction projects in 2015, of which South Korean bidders accounted for four.

Of the 483 bidders considered in 2015, the Ministry of Transport said that 22 domestic and four foreign bidders did not fully meet the requirements for transport construction projects. All four foreign bidders were large corporations from South Korea: Keangnam Enterprises, Samwhan Corporation, Kukdong and Halla Corporation, according to the Ministry's newspaper.

According to a decision recently signed by the minister of transport, 408 bidders were evaluated as 'responsive', 49 bidders were 'average' and 26 were 'non-responsive'.

south-korean-firms-warned-for-not-meeting-construction-project-requirements

Four South Korean bidders were unable to meet the criteria set by the Ministry of Transport for construction projects in 2015. Photo by baoquangninh.com.vn

The criteria are based on financing, machinery and equipment, progress requirements, workplace safety, payment and operational acceptance procedures. In pursuance of Ministry of Transport regulations, bidders that fail to meet more than six specific areas are classed as 'non-responsive'.

Bids will be rejected during the preliminary evaluation if independent bidders or joint-ventures are deemed 'non-responsive'.

The Ministry of Transport said that 'non-responsive' bidders may continue to work on existing contracts if they make amends for any shortcomings to avoid harming the quality and progress of projects.

Some of the larger domestic bidders on the list were well-known construction corporations such as Waterway Construction Joint Stock Company (Vinawaco), Civil Engineering Construction Joint Stock Corporation 8 (Cienco8) and Song Hong Corporation (SHG).

 
 
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