AP Govt saves 62.1 crore in reverse tendering

Amaravati: State government saved Rs 62.1 crores in Veligonda tunnel-2 works and once again proved that the reverse tendering can rescue public money.

The Megha Engineering Infrastructure Ltd group has secured the tender at 7 per cent less, informed the CM office in a statement on Saturday.

The tender has bid for 3 per cent less and in reverse tendering bid, it has gone down by for 4 per cent. The worth of the cancelled works is Rs 553.13 crore.

The previous government has given the tender at excess 4.69 per cent and has given for Rs 553.13 crores. Now, by the reverse tendering process Meil company has secured the tender for Rs 491 crore. By this, the government has saved Rs 62.1 crore.