Hindustan Steelworks Construction Limited Tender

The required prior work experience for the bidder is that they should have experience of having successfully completed similar works during the last 7 years. The similar works can be: - Three similar works each costing not less than 40% of the estimated cost put to tender; - Two similar works each costing not less than 50% of the estimated cost put to tender; - One similar work costing not less than 80% of the estimated cost put to tender. The value of executed works shall be brought to the current level by enhancing the actual value of work done at a simple rate of 7% per annum. The past experience in similar nature of work should be supported by certificates issued by the client’s organisation. In the case of a joint venture or consortium, the bidder's proportionate experience to the extent of its share in the joint venture or consortium is allowed. For companies or firms that have undergone a merger or acquisition, the past work experience and financial parameters of the merged or acquired companies or firms are considered for qualification. In the case of a demerger, the past work experience and financial parameters of the original company before the demerger are considered proportionately for qualification by the new demerged entity, but only for a period of five years from the date of incorporation of the demerged entity. The average annual audited financial turnover for the last three years should be at least 40% of the estimated cost put to tender. The audited net worth of the company or firm as on the last day of the preceding financial year should be a minimum of 10% of the estimated cost put to tender. The bidder should have earned a profit in at least one year in the available last three consecutive balance sheets.