Island Aviation Re-bids Dharavandhoo Airport Terminal Project Under Contractor Financing

Island Aviation Services Limited (IASL) has reopened the bidding process for the development of the passenger terminal at Baa Atoll Dharavandhoo Airport through contractor financing.

The company initially invited expressions of interest (EOIs) for the project in May, with the original registration deadline set for June 4. IASL has now issued a re-bid under Bid No. L4-BID 034-2026.

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Under the Request for Proposal (RFP), the selected contractor will finance the project and propose its preferred financing methodology. Where partial financing is proposed, the contractor must finance at least 50% of the project cost, while the financing grace period must extend at least until the project is handed over.

IASL requires the project to be completed within 18 months of the effective date.

To qualify, bidders must have completed at least one project valued at MVR 50 million or more. Bidders failing to meet this requirement will not proceed to evaluation.

The contractor will also be responsible for providing water and electricity for the project and covering the associated costs.

Interested parties must register their interest by submitting the completed EOI form via email by 11:59 PM on August 18. Only respondents who register their interest within the deadline will be eligible to submit proposals.

An online information session will be held on August 20 at 2 PM via Microsoft Teams, and attendance is mandatory for bidders.

Following the EOI stage, proposals must be submitted by 11:59 PM on September 10. Proposals must remain valid for at least 90 calendar days from the submission deadline.

IASL will assess bids based on technical and financial criteria, weighted at 30 percent and 70 percent respectively.

Mandatory submission documents include the company’s registration documents, company profile, tax registration, relevant project portfolio, audited financial statements for 2023 and 2024, project and financial methodologies, team qualification details, an implementation plan and completed bid forms.

The deadline for submitting clarification requests is September 5 at 11:59pm.

IASL said late submissions will be disqualified and bidders may submit only one bid. All communication regarding the tender must be conducted in writing through the designated official email channels.