Legislator Vinayak Mete, who heads the committee, admitted that they were stumped by the difference in its base price estimate and the final bids. “We have asked the reasons for this difference to be examined,” he said.
Faced with massive cost overruns in its ambitious and much-delayed project to construct an equestrian statue of warrior-king Chatrapati Shivaji Maharaj in the Arabian Sea, the state government may finally retender the project.
Though the first phase of the statue, which is proposed to be the world’s tallest, had an estimate of Rs 2,500 crore, the lowest bid from engineering major L&T is at a much steeper rate of Rs 3,826 crore. The project will be executed on a cash contract basis.
Legislator Vinayak Mete, who heads the committee, admitted that they were stumped by the difference in its base price estimate and the final bids. “We have asked the reasons for this difference to be examined,” he said.
Mete added that the state public works department (PWD) will negotiate with L&T to bring down the costs but admitted that a drastic reduction seemed unlikely.
“There has been no decision so far on retendering or awarding the contract. However, CM Fadnavis and the committee will take a decision after examining the options,” said Mete, admitting that retendering was likely.
The Shivaji Maharaj statue, which has a 36 month completion period, will be erected on a 15.96 hectare rocky basalt outcrop in the Arabian Sea, 1.2 km south west of Raj Bhawan. Three infrastructure majors had bid for the project and while Reliance Infrastructure lost in the technical evaluation, Afcons and L&T had quoted Rs 4,779 crore and Rs 3,826 crore respectively.
The state government wants the statue to be the tallest in the world at a staggering height of 210 metre as against the proposed 192 metre. This may however push up the costs from the present estimate of Rs 3,700 crore for the two phases.
The revised plan will ensure that the statue is two metre taller than the Spring Temple Buddha in China’s Henan province, which is currently the world’s tallest statue.
ANALYSIS:
The cost escalation and likely retendering of the project will only add to the delay. The memorial has been pending for almost 15 years and critics have apprehensions if these funds could have been put to better use like in social and welfare schemes.
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
 "Chatrapati Shivaji Maharaj")
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
)
){kind=small}
){kind=small}
)
)
)
)
)
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}