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Will complete Hyderabad metro as per schedule: L&T
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SME Times News Bureau | 18 Sep, 2014
Larsen & Toubro Wednesday said it is committed to completing the
Hyderabad Metro rail project expeditiously as per schedule with all
support from the Telangana government.
After a meeting with Chief
Secretary Rajiv Sharma, L&T Metro Rail (Hyderabad) Limited (LTMRHL)
chief executive and managing director V.B. Gadgil said it was
unfortunate that a section of media choose to publish a letter written
by him to the government in a manner which could be damaging for this
very prestigious project.
Stating that the correspondence between
the two parties is quite normal for a massive project of this nature,
Gadgil urged the media to show restraint on such selective disclosure
without proper context.
He said the Sep 10 letter is a part of
the long correspondence between L&T and the then government of
Andhra Pradesh and now with government of Telangana.
"The
progress so far is the fastest in the metro sector in the country in
spite of various challenges met during execution," said a statement by
LTMRHL.
Earlier, Telangana government officials said the project is on track and that L&T has not threatened to pull out.
Gadgil's
meeting with the chief secretary came after Hyderabad Metro Rail (HMR)
managing director N.V.S. Reddy called on Chief Minister K. Chandrasekhar
Rao and the chief secretary.
HMR is a Telangana government
agency while LTMRHL is a concessionaire developing 72-km long elevated
Metro project at a cost of Rs.14,132 crore.
Reddy said the work
on the project was continuing without any hurdle. He allayed
apprehensions about the future of the project and said it would be
completed according to the schedule.
He said the communication
between L&T and the government was continuing on a regular basis and
he was responding to all letters.
Information Technology
Minister K. Tarakarama Rao said the chief minister would soon respond on
the issue. The minister, who is son of the chief minister, sees a
conspiracy by the opposition to derail the project and to tarnish the
image of Telangana Rashtra Samithi (TRS) government.
Gagdil in
his letter sought clarity on change of alignment proposed by the chief
minister on two corridors. He said the work was stopped at two places
for last several weeks and this was causing a loss of Rs.2 crore a day.
LTMRHL said there is no official communication for change of alignment and the stoppage of the work was delaying the project.
Gadgil
earlier this month stated that the project is in a "very precarious
mode". He said the project cost has escalated by Rs.2,500 crore to
Rs.3,000 crore due to inflation, hike in interest rates and other
factors.
The developer has so far spent Rs.5,000 crore on the project. It has completed 28 percent of the work.
Opposition
Congress and Telugu Desam Party (TDP) alleged that due to the pressure
mounted by the chief minister, L&T was planning to pull out of the
project.
Congress leader Mohammed Ali Shabbir said the delay in the project will badly hit brand Hyderabad.
TDP
leader Revant Reddy said if L&T pulls out of the project, this
would affect investment coming to the city. He demanded an all-party
meeting on the issue.
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PPP model
Sanjay | Thu Sep 18 05:19:13 2014
What is a PPP model?.....
a) A model which helps private companies to walk out putting the liability on government, when they realize that there is no more money to be made there.
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