Ref No: H/IUL/2021/104A

Date: 03^rd October 2021

Request for Proposals

Consultancy Service of Enterprise Risk Management 

1. State Electric Company Limited (STELCO) wishes to re-tender “Consultancy Service of Enterprise Risk Management” due to lack of response. STELCO requests sealed bids from interested and eligible parties for the above captioned tender.This request for proposal is open for both local and international bidders.

2. A complete set of Bidding Documents may be purchased by interested and eligible Bidders from STELCO’s head office in Male’, from 04^th October 2021 to 10^th October 2021 between 09:00 hrs to 15:00 hrs on all working days, upon payment of a non-refundable fee of MVR 500.00 (Maldivian Rufiyaa Five Hundred only) or equivalent in United States Dollar, in cash or telegraphic transfer directly to our head office. Documents shall be issued from from 04^th October 2021 to 10^th October 2021 between 09:00 hrs to 15:00 hrs on all working days.

• Only Bidders who purchase the Bidding document can participate and thus the document is not transferable.

3.   Qualification Criteria

The bidder keen quoting for the work should satisfy the following minimum requirements:

Bidder should have provided at least 3 Internal Audit / Risk Management Services for Power & Utilities Companies using their own knowledge platform having leading industry benchmarks, process maps, awareness and risk/control matrix with work order value not less than USD 150,000.00

4. Evaluation Matrix

Proposals determined to be substantially responsive to the requirement will only be evaluated based on the following matrix.

- Period of Consultancy Service: 06 Months

5. The Bid Validity shall be minimum Sixty (60) days from the date of Bid opening. All Bids shall be accompanied with a Bid Security of MVR 20,000.00 (Twenty Thousand Maldivian Rufiyaa only) which is valid for Thirty (30) days beyond the validity of the bid. The Performance Security shall be 15% of the Bid Price. Bid Security and Performance Security shall be a bank guarantee letter (as per the format in the bid document), bank draft or an insurance policy.

6. A pre-bid meeting shall be held on Monday, 11^th October 2021 at 11:00hrs local time at STELCO Head Office, 2^nd Floor meeting room.

7. All Bids shall reach STELCO head office on or before Monday, 11^th October 2021, at 11:00 hrs.

8. The Bids shall be submitted in sealed envelope and addressed as follows:

Head of Procurement Department

State Electric Company Limited

Consultancy Service of Enterprise Risk Management

Ref. no: H/IUL/2021/104A

• STELCO shall not be liable for the misplacement or premature opening for the unlabeled proposals.

9. Bids shall be opened on Thursday, 14^th October 2021, at 11:00 hrs, at STELCO Head Office, 2^nd Floor meeting room, in the presence of those Bidders or Bidder’s representatives who wish to attend the session.

10. It is in STELCO’s discretion to reject/cancel any bid which does not fulfil or comply the above terms, at any time during the bid evaluation process. Also it is in STELCO’s discretion to cancel this invitation to bid at any time.

Key Dates:-

• Further information:

Interested Bidders may obtain further information from the following address:

Procurement Department

State Electric Company Limited.

Ameenee Magu, Male’, 20349

Republic of Maldives

Tel:  (960) 333 8121, (960) 333 8125

E-mail: [email protected].

- This invitation for bid is also published on STELCO website www.stelco.com.mv