AP Govt Modified to Reverse Tendering Guidelines - ABN
Mon, Sep 23, 2019, 04:59 PM
The reverse tendering process of the Polavaram project has recently begun. The Department of Water Resources has conducted reverse tendering for the main dam and hydroelectric power station of 'Polavaram'. The tender is learned to have been secured by Megha Engineering. The government has set an initial benchmark (IBM) value of Rs 4,987 crore for these works. The said Mega company has quoted Rs 4359 crore for the project, which is 12.6 percent lower than its estimated value. This will benefit the government exchequer by Rs 688 crore. Megha Engineering was the only company to file a bid in advance of the tender notice invited by the Department of Water Resources.