VIJAYAWADA: With the Dam Design Review Committee of the Polavaram project giving its seal of approval for construction of the upper cofferdam, Chief Minister Chandrababu Naidu is set to formally launch the jet grouting works on Monday. According to information, the Chief Minster will hold a meeting at the project site with officials with regard to the progress of works before heading for the Janmabhoomi programme in West Godavari district.
Meanwhile, Transstroy India Ltd, the contractor for the project, received a setback as banks are initiated legal action against its management for allegedly defaulting loans. After Canara Bank had approached National Company Law Tribunal (NCLT) to declare the firm as bankrupt, Dena Bank officials tried to seize the machinery for failing to repay debts. Unconfirmed reports state that seven banks had approached various statutory bodies seeking action against the firm, owned by a TDP leader from Guntur district.
These unforeseen developments are expected to cause further delay in the execution of projects, analysts feel. Former Congress MP Undavalli Arun Kumar, in a press conference on Friday, said that experts from the National Hydroelectric Power Corporation (NHPC) Ltd, in their report, concluded that the project will not be completed by 2019 as the firm does not have the required machine power.
“In the period between May 2017 and November 2017, there was progress of only five to six per cent,” he said referring to the slow pace of execution. He surmised that the project will not be completed if work is not accelerated and if legal action is initiated against Transstroy. However, officials maintained that there will not be any delay in the works henceforth. They also ruled out changing the contractor as the Centre is keen on retaining the existing firm to avoid cost escalation.
WILL IT SEE A SMOOTH FLOW?
Unconfirmed reports state that seven banks had approached various statutory bodies seeking action against Transstroy
But officials maintained that there will not be any delay in the works henceforth
They also ruled out changing the contractor as the Union government is keen on retaining the existing firm to avoid cost escalation