India (part of US-based CommerceOne), an e-procurement solutions
provider is in the process of entering into a joint venture with
the Andhra Pradesh Government in order to provide e-procurement
solutions to other states in India. It has already signed on the
Punjab government for automating its pre-tendering, tendering and
post-tendering process with its e-procurement solutions. Currently,
C1 is working with the AP government to provide an e-procurement
marketplace to all the state's departments.
are in the process of forming 50:50 JV with the AP government to
jointly target other states with our e-procurement solutions," C1
India president Vivek Agarwal told eFE.
the new JV is planning to raise funds up to $10 million for its
countrywide e-procurement initiative./p>
are in the process of finalising an investment banker who will help
us raise funds for the new JV," Mr. Agarwal said. The new entity
as well as the details of the funds are likely to be completed in
3 months. "We are currently developing solutions based in Hindi,
Telugu and Punjabi."
Once live, the e-procurement marketplace in the AP departments will
enable over Rs. 10,000 crore worth transactions while Punjab project
would enable transactions worth up to Rs. 4,000 crore.
are in talks with five more states but it is very premature to name
these as we are still signing up," he said.
The work involves receiving online bids, evaluating them, awarding
the order, monitoring the contracts and placing purchase orders
directly on the Internet.