Telangana denies L&T pulling out of Hyderabad Metro project

The Telangana government has denied that infrastructure major Larsen & Toubro is pulling out of Hyderabad Metro rail project. Officials said the project is on track and that L&T has not threatened to pull out.
Amid reports that L&T Metro Rail (Hyderabad) Ltd (LTMRHL) wrote a letter to the government that it is incurring a daily loss of Rs 2 crore as the work has been stopped on two corridors, Hyderabad Metro Rail (HMR) managing director N V S Reddy Wednesday met Chief Minister K Chandrasekhar Rao and Chief Secretary Rajiv Sharma.
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.
LTMRHL chief executive and managing director V Gadgil, in a reported letter to the chief secretary, sought clarity on the 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.
Wednesday, September 17, 2014 | News Source: business-standard.com