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ONGC CBM investments in jeopardy-IV: Contractor forced to bring down prices
Jul 04: Since cost economics were strained, ONGC is reported to be struggling with a high priced bid received for the installation of facilities in the Bokaro plant.
8The L-1 bid was found to be too high and hard negotiations had to be undertaken to reduce the price to a point where the cost economics of the entire project is not completely jeopardized.
8There were three bidders reportedly in the race
8And this is one instance where both the L-1 bidder and the company sat down together to reduce the big price significantly just so as to fit the reserve price
8But did the bidder reduce the price by far too much?
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