Options are being considered for a publicly owned quarry including privatisation, according to a recent Request for Proposal.

The RFP, which was published online last week, has called for interested parties to submit proposals for a financial feasibility study for the quarry site in Hamilton Parish.

The procurement notice said: “The goal of the engagement is to determine whether privatisation of the quarry or reinvestment in infrastructure is most optimal.

“The consultant shall make a business case aimed at assisting the Government to assess strategic fit and assuring alignment with government objectives and validate and confirm assumptions through a detailed evaluation of costs, benefits, risks, and opportunities.”

A spokesman for the Ministry of Public Works said last night that the RFP was necessary because of the age of the quarry’s infrastructure and the government fleet. Many of the Government’s vehicles are repaired at the Quarry site.

“The ministry is also mindful of the significant capital investment required to restore service levels to reliability and the required investment in training and staffing,” he said. “There is also the question of electric vehicles and where they will fit in the future.

“The goal of this study is to gather as much data as possible so that the Government can take an informed decision on whether a self-financing or a commercialised approach to the current structure should be the future.

“Due to the Government’s current financial position, the ministry is open to the possibility of a public/private partnership as a solution that is worth exploring.

“However, before that step is taken, the ministry needs to quantify the two options – self-investment or outside investment – to analyse the decision and determine the true cost.”

The spokesman added that discussions had been ongoing between the Government, the Bermuda Industrial Union and the Joint Consultative Committee, made up of unionised staff and management, to keep them aware of the study and its purpose.

The notice highlighted that the quarry is currently used for the purposes of fleet management, recycling and providing the island with aggregate products.

“The Government of Bermuda is requesting proposals from qualified firms to conduct a financial feasibility study to determine the optimal direction of the government-owned quarry,” it said.

“A financial feasibility study will include a cost/benefit analysis and forecast an expected return on investment, as well as outline any financial risks associated with the possible future operating scenarios of the quarry.”

The submission deadline for applications is 5pm on August 1, with the anticipated execution of the agreement expected to take place by October 28.