ONGC's cement tender reveals cartel concerns in infrastructure
ONGC's investigation into identical bids of ₹7,000 per metric ton for a cement tender raises concerns about potential cartel behavior in India's infrastructure sector. This could lead to significant changes in procurement practices moving forward.
pre-market1 source ↓written by the desknot a recommendation
- for a cement
- ₹7,000 per metric ton
India’s largest oil and gas explorer, ONGC, raised alarms after three suppliers submitted identical bids of ₹7,000 per metric ton for a cement tender. This unusual pricing pattern, noted across multiple tenders, suggests potential collusion in the infrastructure sector. ONGC is now investigating the matter further, which may impact future procurement strategies.
Not investment advice. For informational purposes only.