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CPA solicits bids for multi-million-dollar seaport paving
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Posted on Dec 12 2005
The Commonwealth Ports Authority will implement a multi-million-dollar paving project at the Port of Saipan as part of efforts to modernize the facility.
Newly installed CPA executive director Lee Cabrera, the agency’s former seaport manager, said the bid solicitation process has begun for the paving project.
Cabrera said the project would cover the container yard, which had suffered from flooding during incidents of heavy rain. He said past flooding at the port had resulted in damage to equipment and some cargoes.
The executive director disclosed that the project would be funded through some $7.2 million in seaport revenue bond. He did not make an estimate on how much the project costs, leaving it to bidders to come up with proposals.
Earlier this year, though, retired CPA executive director Carlos Salas said the agency needs gross revenue of at least $7.18 million to fully finance the container yard paving project. About $5.9 million of this amount will go to the actual construction.
Saipan Stevedore Company Inc., the sole stevedore operator at the Port of Saipan, has reportedly committed to contributing $2 million to the repayment of the bonds by amendment of its lease agreement.
