Coal is one of the most abundantly found fossil fuel resources in India. The country ranks at the third place when it comes to the annual coal production of nations across the planet. More than sixty coalfields can be found on the Indian peninsula, and seventeen in its north-eastern region.
As a high amount of coal is produced in India, multiple projects related to coal mining and distribution are undertaken in the nation every year. Coal tenders in India are usually issued for the efficient completion of such projects. Tendering is an extremely popular and prominent bidding procedure that is used by organisations around the globe to invite contractors and vendors for any project or procurement contract. Tenders are usually issued for projects that involve a high amount of investment and are needed to be completed within a finite deadline.
The system of tendering is used for coal-related projects owing to the many advantages of this procedure. Here are a few of those advantages:
Best value for money: Multiple contractors and suppliers compete with each other for a single project in case of tendering. As a result, the bidders are more inclined to quote the lowest possible price for high-quality service or product, in order to win the contract. This factor enables the client organizations to enjoy the best value for their money, and ensure that the project in hand is completed without exceeding their budget.
No bias: In the tendering system, the final contract is awarded on the basis of pre-determined criteria. The company quoting the lowest price for the best quality of product or service in their bid response wins the contract, without any further negotiations. This straightforward process subsequently minimalizes the chances of any bias, favouritism, and nepotism. With the help of tendering, even a new company that does not have any prior contact in the industry is able to win prestigious contracts.
As the states of Orissa, Jharkhand, Madhya Pradesh, and West Bengal house the major bulk of coal reserves in the nation, a large number of coal tenders in India are issued in these regions. Details about such tenders can be easily found on popular online tendering platforms.
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