Two new bids tendered to buy Marriott hotel; highest bid is now US$90M

On 16th May, 2023, at the Bid Opening, Representatives of one Bidder were physically present, while a representative of one (1) attended virtually via Zoom Video Conference. Mr. R.K. Sharma, Ms. Arianne McLean, and Mr. Naresh Balkaran, the Manager of Internal Audit and Risk Management of NICIL were present at the Bid Opening Meeting.

The tender box was opened in the presence of all present and there were two (2) bids contained therein, which were opened and read aloud in the presence of all present. The Bidders and their respective Bids were recorded, signed and acknowledged by the Bidders who were present, as well as the Representatives of NICIL.

The following companies submitted bids, which were opened at the Bid Opening Meeting:

1. X,LLC – USD90 Million.
2. Integrated Group Guyana Inc. – USD86.1 Million.

Issued by: R.K. Sharma, Chief Executive Officer – NICIL

Date: 16th May, 2023