Andhra Pradesh government saved Rs 62.1 crore in Veligonda tunnel-2 works and once again proved that the reverse tendering can rescue public money.
The Meil group has secured the tender at 7 per cent less.
The tender has bid for 3 per cent less and in reverse tendering bid it has gome down by for 4 per cent. The worth of the cancelled works is Rs 553.13 crore.
Previous government has given the tender at excess 4.69 per cent and has given for Rs 553.13 crore.
Now, by the reverse tendering process Meil company has secured the tender for Rs 491 crore. By this, government has saved Rs 62.1 crore in the project.