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Visakhapatnam: MLCP works to gain pace

MLCP works to gain pace
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MLCP works to gain pace

Highlights

VMRDA proposed for development of multi-level car parking and commercial space at Siripuram junction in Visakhapatnam under VMRDA funds with a proposed cost of Rs 80 crore

Visakhapatnam: VMRDA proposed for development of multi-level car parking and commercial space at Siripuram junction in Visakhapatnam under VMRDA funds with a proposed cost of Rs 80 crore.

VMRDA has engaged Andhra Pradesh Urban Infrastructure Asset Management Ltd. Multi-level) as the end-to-end project manager and transaction advisor for the project and it was planned to construct the project in 18 months' time. Accordingly, APUIAML prepared the detailed project report for Rs 65.31 crore in 2019.

Three bidders have submitted their bids through e-procurement platform. Tender–cum-reverse auctioning slot was called and all the three bidders were allowed to participate in reverse-auctioning process by keeping the opening price as Rs.68.25 crore.

The last bid was quoted for Rs.67.57 crore which is 3.45 per cent excess over the ECV value of Rs.65.31 crore. As a result of the reverse-auctioning process, Rs.68.25 lakh was found as savings.

The lowest bidder Vijay Nirman Company Private Limited quoted the lowest bid for Rs.67.57 crore.

The project is planned to be constructed in 18 months from the date of signing agreement with the contractor. The construction, quality and timely delivery of the project activities is supervised by Andhra Pradesh Urban Infrastructure Asset Management Ltd.

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