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Energy Efficiency Services Ltd (EESL), the state-run firm that is implementing a nationwide smart meter programme, will encash the bank guarantee provided by Indonesia\u2019s PT Hexing after cancelling a contract for 2 million smart meters over its failure to meet local manufacturing norms. <\/p>\n
\u201cWe will encash the Rs 25 crore bank guarantee submitted by PT Hexing. They failed to meet the tender conditions that made it mandatory to manufacture these smart meters in India,\u201d said Saurabh Kumar, executive vice-chairperson, EESL Group.<\/p>\n
EESL has also returned 10,000 meters supplied by the firm, said to be owned by Hangzhou, China-based Hexing Electrical Co. <\/p>\n
India has responded to the incursion by Chinese troops in Ladakh by gradually snapping economic ties with its largest trading partner. The steps include barring Chinese firms from state-run projects.<\/p>\n
After PT Hexing\u2019s disqualification and India\u2019s new public procurement rules for compulsory purchase preference to local suppliers, the firms eligible to participate in the snap bid called by EESL for supplying 3 million meters include Genus Power Infrastructures Ltd, Larsen and Toubro and HPL Electric and Power Ltd. PT Hexing could not be contacted for comments. <\/p>\n
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