Key Reasons for Using Tenders for the Completion of Railway Projects

 

For the completion of such projects, railway tenders are issued in the market. In fact, the railway ministry has launched an exclusive e-tendering portal for these tenders in order to encourage contractors and suppliers from across the country to participate in the tendering process, as well as to enhance the transparency in the execution of the contract.

Here are some of the key reasons why the tendering system is used for the completion of railway projects:

The Indian Railways is one of the strongest pillars of transportation in the country. Going by its size, it essentially is the fourth largest railway network across the globe. The railways are the eighth largest employers in the world and additionally account for about one percent of the GNP of the country. Enabling rapid, large scale and affordable movement of both goods and people across the country, the Indian Railway network plays a key role in its socio-economic development. As such, every aspect of the railways right from its infrastructure to its service capabilities, need to be maintained in top condition. And, in order to achieve this, a number of projects related to the development of the railway network are undertaken in various parts of the country. 

• Ensures the best quality output: As the Indian Railway network is used by many thousands of people every day, it is imperative to ensure that every project relating to it is completed with the highest efficiency in order to be assured of the safety of the people. As the tendering system filters out all the unsuitable candidates, only the contractors offering premium quality of output get to win the contract.
  
• Guarantees Good value for money: As the Indian Railways is a State owned network, all the funds invested in their projects primarily comes from the public. Hence, it becomes incredibly important to ensure that the taxpayer’s money is utilized optimally. In order to gain an edge over their competitors in the tendering system, contractors are often inclined to offer the most superior quality of products in the most reasonable pricing range, subsequently ensuring maximum savings and value for money for the buyers.
  
• Adherence to the regulations: Any and all kinds of railway projects must be completed in adherence to certain legislative obligations and as such need to be closely monitored. In case of the tendering system, the railway department can monitor the workings of the contractors and ensure that they follow the prescribed framework. 

In order get detailed information about railway tenders; interested contractors can easily consult any renowned and reliable website offering accurate tender details.