NTECL AWARDS : “Driving Eco-Conscious Construction: NTECL Engages Constronics Infra United for Pond Ash Provision”
Chennai, 23 May (City Times) : NTECL AWARDS : In a significant development, NTPC Tamilnadu Energy Company Ltd (NTECL) has awarded a contract to Constronics Infra United for the supply of pond ash from the Vallur Thermal Power Project. The contract, referenced as NTECL/C&M/CS-6000A-4619, was finalized following a competitive e-auction process facilitated by MSTC.
The Letter of Award (LOA), dated May 5, 2004, outlines the terms of the agreement, which includes the supply of 300,000 metric tonnes of pond ash annually at a rate of Rs. 126 per metric tonne, excluding taxes and duties. The current Goods and Services Tax (GST) rate of 5% is applicable.Payment terms require advance payment in accordance with NTECL’s policy, with the advance amount being equivalent to the value of one month’s off-take quantity.
The contract also stipulates that the successful bidder must set up a Contract Performance Guarantee (CPG) within 15 days of the award letter’s issuance, amounting to 10% of the value of the allocated quantity.The period of sale is set for two years or until the completion of the supply of the allocated quantity, whichever is earlier. Shri V. Nagarajan, the Engineer-In-Charge, will oversee the execution of the contract.
Constronics Infra United is expected to commence the supply of pond ash promptly and has been instructed to contact the Engineer-In-Charge for further directions.NTECL’s initiative to utilize pond ash aligns with sustainable environmental practices and supports the construction industry’s demand for eco-friendly materials.