The Capital Development Authority (CDA) has received a bid 10 percent below the estimated tender cost for a major road project after revising its bidding criteria.
The authority had previously issued tenders for large road projects under strict eligibility conditions that limited participation. In recent months, it eased those requirements to encourage broader competition.
Thirteen companies submitted bids for the project, which includes construction of a 2.7-kilometer stretch of Margalla Avenue to connect it with the Peshawar Motorway M-1. The plan also covers construction of an interchange on G.T. Road.
During the technical evaluation, officials rejected two bids. The authority then opened financial bids of the remaining 11 firms. The Notice Inviting Tender cost for the project stands at Rs. 3.58 billion.
New Khan Builders emerged as the lowest bidder after offering a rate 10 percent below the estimated cost. A CDA officer confirmed that the authority will complete required formalities before awarding the contract and initiating construction.
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