The YSR Congress Party government has claimed a big success of its reverse rendering concept and a saving of ₹628 crore to the exchequer in the Polavaram Project works. Megha Engineering and Infrastructure Limited (MEIL) has bagged these works quoting an amount that was 12.6 per cent less than the base price fixed by the government.
MEIL was the only company to make a bid for ₹4,359.12 crore for completion of the unfinished works. This works out to a saving of ₹628.43 crore, that is, 12.6% lesser than the ECV (estimated contract value as per detailed estimate) IBM (internal bench mark) value of ₹4,987.55 crore fixed by the government.
https://www.thehindu.com/news/cities/Vijayawada/govt-says-saved-628-crore-in-polavaram-project-after-reverse-tendering/article29494401.ece
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![Prof K Nageshwar: TDP, YCP And Concept Of Reverse Tendering [HD] (Video)](https://i0.wp.com/www.socialnews.xyz/wp-content/uploads/2019/09/24/maxresdefault-42.jpg?w=180&quality=80&zoom=1&ssl=1 "Prof K Nageshwar: TDP, YCP And Concept Of Reverse Tendering [HD] (Video)")
The YSR Congress Party government has claimed a big success of its reverse rendering concept and a saving of ₹628 crore to the exchequer in the Polavaram Project works. Megha Engineering and Infrastructure Limited (MEIL) has bagged these works quoting an amount that was 12.6 per cent less than the base price fixed by the government. MEIL was the only company to make a bid for ₹4,359.12 crore for completion of the unfinished works. This works out to a saving of ₹628.43 crore, that is, 12.6% lesser than the ECV (estimated contract value as per detailed estimate) IBM (internal bench mark) value of ₹4,987.55 crore fixed by the government. https://www.thehindu.com/news/cities/Vijayawada/govt-says-saved-628-crore-in-polavaram-project-after-reverse-tendering/article29494401.ece