HSCC awards LoA for project worth Rs 625.2 cr to Nyati Engineers and Consultants

New Delhi: State-owned NBCC Limited in a regulatory filing on Wednesday said that its wholly-owned subsidiary HSCC Limited has issued "the Letter of Award for the Construction of Medical College at Jalgaon, Maharashtra, and its maintenance during the defect liability period for five years on Comprehensive Design, Engineering, Procurement and Construction (EPC) basis for a contract value of Rs 625,20,00,000 to M/s Nyati Engineers and Consultants Pvt Ltd, Pune, Maharashtra."

Specific terms and conditions of the project

According to the filing, "As per clause of the contract, section-3, clause no. 2.0 of volume II (General Conditions of Contract) of the bid documents, M/S Nyati is required to submit the Performance Guarantee equivalent to three percent of the contract price. The performance guarantee should be submitted within 30 days from the date of issue of the letter of award."

"The date of start of the contract shall be reckoned from 10 days after the date of issue of letter of Award as per volume II (General Conditions of Contract) of the bid document," it added.

"As per section-3, Clause 22.0 of Volume II (General Conditions of Contract) and all other related clauses regarding insurance as per tender conditions, shall be provided by M/s Nyati along with the Performance Guarantee," it added.

Time period of completion

The filing also said that "the entire work shall be completed overall within 21 calendar months from the date of commencement. However, completion of Medical College and two hostel blocks, one type-3 block, and Director/Dean Residence with services shall become operational in 15 months."

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