AP govt saves over Rs 62 cr in Veligonda tunnel project

Andhra Pradesh government has saved Rs 62.1 crores in Veligonda tunnel-2 works through a reverse tendering process, an official release said on Saturday.

Andhra Pradesh government has saved Rs 62.1 crores in Veligonda tunnel-2 works through a reverse tendering process, an official release said on Saturday. The government had cancelled the tender notified under the previous TDP government earlier this month. The worth of the cancelled works stood at Rs 553.13 crore.

In the new process, Meil group has secured the tender at Rs 491 crore -- 7 percent less -- than what was done under the previous government. "The tender has bid for 3 percent less and in reverse tendering bid, it has gone down by for 4 percent," the release said.

It said that the previous government led by Chandrababu Naidu had given the tender at 4.69 per cent more than what has now been done. (ANI)

Also Read: China removes former head of securities regulator from government post after corruption probe