Hyderabad metro project being delayed on context of collision
L&T Metro Rail Hyderabad Limited and the Telangana Government are on a collision course regarding the Rs 14,132 crore metro rail project, with the former even suggesting that the State take over the project.
Contending that the project viability is being challenged by delays in securing clearances having a huge impact on the project financial viability, the construction major has even offered to withdraw from the project if issues were not sorted in a communication dated September 10. There have been a series of communications between L&T and both undivided AP and Telangana over the past few months.
In February, L&T even wanted to part with its equity and function as a construction partner. CE & MD of L&TMRHL, VB Gadgil, in the latest letter said without prejudice to the rights available to the concessionaire under the law, since the completion of the project is in public interest, it would be most appropriate that the State Government take over the project and under laying contract from the Concessionaire.
The delays have been mainly caused due to the collision with the course of the metro rail project.
Source: The Hindu Business Line
Hyderabad Metro Rail Limited, L&T, L&T Metro Rail, L&T Metro Rail Hyderabad, L&T Metro Rail Hyderabad Limited, L&TMRHL, Telangana Government, VB Gadgil
