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ONGC's $ 2 billion KG-DWN-98/2 project-IV: Forced to dilute bidding conditions to everyone in the fray
Apr 24: It is learnt from highly placed sources that ONGC was forced to dilute some of its normal tender conditions in order to be able to to ensure that all global SPS and SURF companies compete in the tender
8The usual provisions of Liquidated Damages had to be consideredly compromised
8As also were the provisions of liability
8The cap on overall liability was brought down drastically in case something were to go wrong with project completion in such a complex and challenging project
8ONGC is trying to be as flexible as possible to ensure that all major contractors in the world end up bidding for the tender.
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