Andhra Pradesh chief minister directed the state chief secretary to "immediately evaluate the risks for successful and timely completion of projects under execution by Maytas."
Andhra Pradesh chief minister YS Rajasekhara Reddy on Friday directed the state chief secretary to "immediately evaluate the risks for successful and timely completion of projects under execution by Maytas", promoted by Satyam former chief Ramalinga Raju's kin.
Besides the Hyderabad Metro Rail Project, Maytas Infra has been awarded prime contracts such as the Godavari drinking water supply scheme for Hyderabad, Machilipatnam Deep Water Port and many packages in various irrigation projects under
the Jalayagnam programme.
Though there is no immediate threat to the irrigation projects, the state government is worried over the fate of Hyderabad Metro Rail, Machilipatnam Port and the Godavari
water supply projects.
On Friday, top officials of the municipal administration and Urban Development Department reviewed the Hyderabad Metro Rail and Godavari water supply projects and discussed various possibilities.
Official sources said that there was no likelihood of immediate cancellation of the Hyderabad Metro Rail Project agreement with the Maytas consortium.
"Right now, everything is on schedule. The consortium has to obtain financial closure by March as per the schedule and we have to wait and watch the situation till then. The
question of revoking the agreement arises only if the consortium fails to achieve financial closure by the stipulated time," a top official involved with the Hyderabad Metro Rail Project said.
Same would be the case with the Machilipatnam Port. Financial closure for this project is expected to be achieved by March and hence, the government would like to monitor the situation till that time, the sources said.
"Any immediate action in these cases is ruled out as otherwise it could lead to legal tangle. We want to avoid such eventuality and wait for things to happen," a top government official said.
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