THIRUVANANTHAPURAM: The unprecedented rise in steel prices is likely to adversely affect the ambitious Palayam Connemara Market project, which aims to give a fresh lease of life to the iconic century-old market. In the past six to seven months, the prices of steel in the open market have almost doubled in the country and according to officials of Smart City Thiruvananthapuram Ltd (SCTL), the agency executing the project, the contractor has raised concern on the project cost because of this.
It is learnt that steel contributes to 15-20% of the total cost of any construction-related project and the rise in prices is likely to impact all government projects. It’s been almost three years since SCTL awarded the project to redevelop the old market and the project is estimated to cost around Rs 113.62 crore.
An official of SCTL said the contractors of various projects are raising concern and expressing their helplessness to execute the projects at the cost quoted in the agreements.
“The contractor of the redevelopment project has aired concern but we have to stick on with the estimated cost as per the agreement we have signed with them. We have specifically mentioned a few particular steel brands for the project but the contractor has sought relaxation as the branded companies charge more. The Palayam project requires a massive quantity of steel and they cannot procure it and store it somewhere. After the pandemic outbreak, the steel prices have shot up and the project cost has doubled. The technical committee meeting decided to use any brands with BIS and ISO certifications for steel procurement. We cannot revise the estimate of the project or bear the cost escalation,” said an SCTL official.
Rehab blocks to be ready soon
The construction of three temporary rehabilitation blocks to relocate the vendors at TRIDA-owned land near the market is fast progressing. Around 2,000 tonnes of accumulated legacy waste has been biomined and removed to facilitate construction of the rehabilitation blocks. According to officials, the work of the prefab structures which would be installed is progressing at Palakkad. “The preparatory work at the site is fast progressing and a team visited the Palakkad plant to check the prefab structures. The casting work is ongoing at the plant in Palakkad. We don’t want to take any risk and have problems after the structures arrive here. The team is satisfied with the product and they have given a few corrections and complaints which would be rectified. The prefab structures can be assembled after reaching here and the temporary blocks would be ready in no time,” said the official.
As part of the project, a hi-tech fish and meat market would be constructed on the ground floor and the displaced traders would be given designated stalls in the new market. The first and second floors of the market would be used for commercial purposes. In addition to the parking area in the market, the authorities are also planning to set up a multi-level car parking facility worth `32 crore near the market.
The upcoming parking facilities at the market are expected to ease the parking crisis on the busy MG Road. The recently opened multilevel car parking at the corporation main office has drawn flak. “The project at the corporation office was planned around two to three years back. The technology has advanced now. We will be using the most modern technology for the multi-level car parking,” the official added.
Key features of the project
A113.62 cr Total project cost
18 months to complete