Vishal bids lowest for HPCL tanks

Vol 20, PW 14 (06 Apr 17) News in Brief

Mumbai-based Vishal Structurals has bid lowest for both Part A and B of a HPCL tender to set up 40 storage tanks near its 6.5m t/y Mumbai refinery.

But Vishal cannot win contracts for both parts of the tender as that is one of the conditions. Everything hinges on a reverse auction this week where Vishal's quotes will be the starting price against which bidders must compete.

When HPCL opened price bids on March 27, for Part A (24 tanks) Vishal quoted Rs164.46cr ($25m) followed by Essar Projects at Rs165.76cr ($26m) and L&T at Rs219.24cr ($34m). For Part B (16 tanks), Vishal quoted Rs46.98cr ($7.2m) followed by Adarsh Noble at Rs47.55cr ($7.3m), Tuaman Engineering at Rs49.16cr ($7.6m), IOT Anwesha at Rs49.45cr ($7.6m), Offshore Infrastructures at Rs52.37cr ($8m), Essar Projects at Rs53.02cr ($8m) and Vijay Tanks & Vessels at Rs68cr ($10.5m).

Part A will have floating roofs and Part B tanks will have fixed cone roofs. Part A must be completed within 12 months of LoA and Part B within 10 months.