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Hindustan Copper tightens contract eligibility norms post CAG report

Dec 14, 2024over 1 year ago

Contract Type

contract

DelhiManufacturingMiningPrecious MetalsMineralMining Technology

Description

Hindustan Copper (HCL) has tightened eligibility criteria for award of contract. The company has incorporated a suitable clause in the mining contracts for application of liquidated damages on quarterly basis, based on performance of contractor against quarterly targets. HCL rationalised the prequalification criteria by incorporating various other financial eligibility criteria in the subsequent tenders for selecting mining contractors and obtaining most competitive bids after a blacklisted firm was awarded the Malanjkhand mine expansion project, an incident flagged by the Comptroller and Auditor General (CAG) of India in a report recently tabled in Parliament.

Company Information

Company

Hindustan Copper Limited (HCL)

Location

Delhi, India

About

Hindustan Copper Limited (HCL) is a public sector undertaking in the mining industry. The company is involved in mining, beneficiation, smelting, refining, and casting of refined copper metal.

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