TamilRecognition for Constronics Infra Limited: New Assignment for Vallur Thermal Power Project!
23 May 2024, 6:27 pm
Public company Constronics Infra Limited has successfully completed various tenders worth over ₹5.54 crore from Tamil Nadu Electricity Board, securing a significant position in the infrastructure market. This is considered a major milestone for the company.
Currently, Constronics Infra Limited is expanding its operations by focusing on supplying blue metal, M-sand, and P-sand to construction companies.
In this context, NTPC has assigned some tasks to Constronics Infra Limited.Regarding this, NTPC released a statement saying, “We are pleased to assign certain tasks to you (Constronics Infra Ltd).”
Annual Quantity: 800,000 MT Pond Ash Price: ₹126/MT, with payment terms aligned with NTECL’s advance payment terms. Equivalent to One Month’s Off-Take Value: Advance payment to be adjusted against daily supply.All Bank Charges: To be borne by the buyer (Section 57 of the bidding documents).
The award letter for the allocation must be signed within fifteen (15) days. The contract performance guarantee (CPG) must be submitted by the successful bidders.
CPG/Security Deposit: Amount equivalent to ten (10) percent of the contract value (Section 21 of the bidding documents | to be submitted in the form of RTGS/ Cross Demand Draft).
Payment Location: NTPC Tamil Nadu Energy Company Limited, Chennai, or as per the format in Annexure V, as an unconditional and irrevocable bank guarantee. The verification of the allocation documents will be as per Annexure IV(A) of the bidding documents.
Failure by the successful bidder to submit the contract performance guarantee within the specified time may result in the cancellation of the allocation order and forfeiture of the bid security.
In such an event, any damages or compensation must be provided to the buyer. Submission of CPG/SD is a prerequisite for commencing the supply. The performance guarantee/security deposit will be issued within 90 days.
The sale period is two (2) years or until the allocated quantity is supplied, whichever is earlier (Sections 55 & 58 of the bidding documents | from the start date). The first off-take for bidders must commence no later than one month from the date of issuance of the pond ash documents, as stated in the report.
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