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NMDC releases Standard Bidding Document for Turnkey Works

Dec 16th, 2022 7:00 pm | By | Category: LATEST NEWS


(THE NEWSMAN OF INDIA.COM)
NMDC releases Standard Bidding Document for Turnkey Works today at its Head Office in Hyderabad. The mining major has ambitious and capital-intensive Projects lined up and this Standard Bidding Document will ensure greater efficiency in awarding, executing and monitoring contracts.

NMDC has reviewed its existing Standard Bidding Document and updated it with best practices adopted across the industry. The Standard Bidding Document makes Project Management and Monitoring, Scheduling of Work, Price Evaluation, Payment Advice, Flagging of Issues and Dispute Resolution simpler and easier, thereby enhancing ease of doing business with NMDC.

The CPSE has prepared a comprehensive and all-encompassing document that would serve as a model for all its turnkey projects. Enabling geo-tagging of milestones, this initiative will boost the digital environment at NMDC.

Commenting on the release, Sumit Deb, CMD, NMDC said that the Standard Bidding Document will help NMDC retain and comply with 4 axioms of Public Procurement – Transparency, Equity, Fairness, and Competitiveness. With this kind of document in place, NMDC will become a global entity that the world will aspire to work with.

The initiative to release the Standard Bidding Document comes at a crucial business point for NMDC. It will reduce the preparation time of tender documents and enhance confidence and comfort levels of the bidder, said Dilip Kumar Mohanty, Director (Production), NMDC.

Speaking about the document, Somnath Nandi, Director (Technical) said that the Standard Bidding Document will ease our exercise for tenders and contracts and also improve efficiency and decision- making process in the organization. This approach will reduce time in awarding contracts and is to be followed judiciously.

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