Indian Oil conferred with GeM Award for the ‘Highest Single Bid Procurements in FY 2022-23’

New Delhi: Indian Oil's Chairman SM Vaidya and Director (Pipelines) DS Nanaware have been conferred with the prestigious Government-e-Marketplace (GeM) Award in the category ‘Highest Single Bid Procurements in the financial year 2022-23’ on June 26. The award was presented by Union Minister of Textiles Commerce & Industries, Consumer Affairs and Food & Public Distribution Piyush Goyal in a glittering award ceremony held at Vanizya Bhawan, New Delhi.

This award recognises the highest ever order value of Rs 3,632.44 crore placed on the GeM portal by Indian Oil Pipelines Division for the supply of Line Pipes (36” OD) for the New Mundra-Panipat Pipeline project to meet the enhanced crude oil requirement of Panipat Refinery after its capacity expansion to 25 MMTPA. The work was awarded to five parties on April 30, in a lead time of 82 days, and the material delivery got completed successfully in all five awarded GeM contracts.

Procurement through the GeM offers several benefits when compared to traditional e-tendering processes, which include tendering and award of work through smooth, efficient and transparent process; ensuring compliance of statutory requirements & policies through in-built system interlocks; user-friendly dashboard for monitoring supplies & payment with support for quick resolution of issues; integrated payment system; rich listing of products for the individual category of goods/services; easy to comprehend interface to search, compare, select and buy; price trends and price comparison from multiple suppliers to take decisions.

Indian Oil is committed to enhancing public procurement through the GeM portal that serves as a comprehensive platform for connecting with a wide array of vendors, including start-ups & MSMEs, promoting inclusivity and transparency.

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