Hyderabad Metro Rail: L&T threatened to pull out from work
Larsen and Toubro Ltd (L&T), the company building the Rs 16,375 crore Hyderabad Metro rail project, has threatened to pull out because of issues relating to project viability and non-availability of right of way.
L&T proposed that the government of Telangana (GoT) take over the project and the underlying contract from the concessionaire in a 10 September letter to N.V.S. Reddy, managing director of Hyderabad Metro Rail Ltd—the agency that monitors the project on behalf of the state government.
GoT should do so by resituating the concessionaire in a manner whereby the concessionaire’s property and entitlements are returned to it, V.B. Gadgil, chief executive and managing director of L&T Hyderabad Metro Rail Pvt. Ltd, the unit that’s executing the project, wrote in the letter. Mint has reviewed a copy of the letter. L&T also expressed concerns over the economic viability of the project, which was conceived in undivided Andhra Pradesh.
This problem has really come disturbing to the authorities as the issues have been hanging on for long. The decisions need to be taken in order to fast forward the work.
Source: Mint
government of Telangana, Hyderabad Metro Rail Ltd, L&T, L&T Hyderabad Metro Rail Pvt, Larsen and Toubro Ltd
