The Hindu : Front Page : Bids opened in media presence

Online edition of India's National Newspaper
Wednesday, Oct 25, 2006
ePaper

Front Page

Front Page

Bids opened in media presence

Special Correspondent

VISAKHAPATNAM: Financial bids for a couple of housing projects and a commercial complex of the Visakhapatnam Urban Development Authority were opened in the presence of the media at VUDA Children's Theatre here on Tuesday.

Stress on transparency

"Opening the bids in the presence of media is a daring step initiated by VUDA to ensure greater transparency in the bidding process," said VUDA Vice-Chairman G. Venkatram Reddy.

VUDA Chairman P.S.N. Raju, Mr. Venkatram Reddy, Secretary M.V. Seshagiribabu, OSD P. Timma Reddy, senior consultant of APITCO Lakshminarayana and other senior officials were present. Five firms offered their bids for the Madhurawada-Endada housing project, two firms for the Vepagunta housing project and three for the commercial complex at Siripuram while the bids made by two firms for the multiplex complex at MVP Colony had been rejected as they failed to meet the qualifying standards and hence were not considered for financial bidding.

Thorough scrutiny

The financial bids would be finalised after a thorough examination of eligibilities mentioned and documents submitted by the firms and in accordance with the conditions set by VUDA in the Request for Proposals.

Details of financial bids: Madhurawada-Endada housing project: Rs. 1.46 crores per acre and Rs. 116.80 crores as minimum guarantee for the total project by IVRL Infrastructure and Projects Limited; Rs. 2.95 crores and Rs. 236.50 crores by the Jurong Infrastructure and ABS Infrastructures, Rs. 1.73 crores and Rs. 139 crores by the Nagarjuna Construction Company (NCC), Rs. 2.78 crores and Rs. 222.40 crores by the ATR Warehousing and Rs. 2.79 crores and Rs. 223.30 crores by the Vision Ventures.

For the Vepagunta housing project: Rs. 1.07 crores and Rs. 58.85 crores by ATR and Rs. 1.13 crores and Rs. 62.40 crores by Vision Ventures.

Commercial complex at Siripuram: Development fee of Rs. 21 lakhs and Rs. 92.06 lakhs in the fourth year and an escalation of 5per cent every year from then on up to the 3rd year as additional development premium by Vinayagar Promoters and Builders; Rs. 20 lakh as DF, Rs. 72.09 lakh in the fourth year and 5 per cent escalation cost every year from then on up to 33rd year by NCC; Rs. 20 lakhs as DF and highest additional development premium of Rs. 1.06 crore in the fourth year and escalation of five per cent for 4-10 years, 6 per cent for 11-25 years and 7 per cent between 26th and 33rd years by Vaibhav Empire Private Limited.

In the case of the multiplex complex, the Indo-African Industries Private Limited was disqualified because it failed to provide its plans for traffic, environmental and fire and safety management plans in its business proposal presentation and the SBPL Infrastructure Limited did not attend the business proposal presentation meeting.

Printer friendly page
Send this article to Friends by E-Mail

Front Page