Waste Oils awarded 30-year concession for Ricasoli port operation facility

Waste Oils Company Limited, the parent company of Ricasoli Port Facility Limited, was the only company to submit a tender for the operation of the Ricasoli Tank cleaning Facility.

The 30-year concession agreement was signed today between government and Ricasoli Port Facility Limited.

The Finance Minister said the tendering process for the operation of a port reception facility for ship-generated waste oils and cargo residues at the commenced in May.

Six entities collected the relative call for tenders document on payment of the prescribed tender collection fee of €5,000 and the signing of a confidentiality agreement. 

Site inspections were made by three of these potential bidders.

But by the July submission deadline, only one tender was submitted by Waste Oils Company Limited.

"The bid was evaluated to establish if it meets the technical and other requirements laid down in the Call for Tenders and once this was confirmed, the financial offer submitted by this bidder was opened on 10 September in the presence of a notary public and representatives of the bidder," the ministry said.

The financial offer exceeded the minimum stipulated in the Call for Tenders by an additional rent offer of €130,000 per annum and Waste Oils Company Limited was declared as the Preferred Bidder in terms of the procedure set out in the Call for Tenders.

The agreement provides for an annual ground rent of €100,000 and an additional annual rent of €130,000.  In both instances these rents are revisable upwards by 15% every five years. 

All together the total value of these payments during the 30-year concession will amount to just over €10 million. 

"The concessionaire also paid €300,000 as an upfront payment and is committed to invest €10.8 million," the ministry said.