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ONGC CBM investments in jeopardy-VI: ONGC unhappy with new breed of aggressive EPC contractors
Jul 04:
A new and more aggressive bunch of contractors are now picking up turnkey contracts from ONGC.
8They are a tough lot. They work with smaller margins in comparison with the larger more experienced and technologically savvy EPC contractors who are are now unable compete.
8But these contractors are also a source of worry for the ONGC brass who believes that standards are being compromised and corners are cut when they win turnkey projects with low pricing.
8The company had issued a demarche to its contracting cells and its offshore and onshore engineering services companies to initiate a series of discussions with the likes of L&T and even foreign EPC companies on how to wean them back into the fold.
Click on Details for more
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8They are a tough lot. They work with smaller margins in comparison with the larger more experienced and technologically savvy EPC contractors who are are now unable compete.
8But these contractors are also a source of worry for the ONGC brass who believes that standards are being compromised and corners are cut when they win turnkey projects with low pricing.
8The company had issued a demarche to its contracting cells and its offshore and onshore engineering services companies to initiate a series of discussions with the likes of L&T and even foreign EPC companies on how to wean them back into the fold.
Click on Details for more
