Translate

Monday, January 12, 2009

Maytas awarded Rs 12,800 cr projects by Andhra govt

The Y S Rajasekhara Reddy government has so far paid Rs 1,800 crore to Maytas Infra towards works under the irrigation department’s Jalayagnam project and according to major irrigation minister Ponnala Lakshmaiah, works totalling another Rs 11,000 crore has been sanctioned to the company for various irrigation projects ever since this regime took over in 2004.

Apart from this, it has come to light that the state was in the process of finalising the proposal for sanctioning another Rs 200 crore but did not release it as the scam broke before that. Sources told TOI that out of the Rs 1800 crore already paid to Maytas, only Rs 600 crore was towards mobilization advance. “The rest was towards payment of bills for the works executed by them,” one official said.

Minister Laxmaiah told the media on Friday that according to preliminary estimations, Rs 11,000 crore works are tied up with Maytas and of this, works amounting to Rs 400 crore have been completed. “We will discuss the issue and take a decision about what is to be done,” he said. According to the minister, the government holds back 7.5% of the bill amount as deposit till the works are completed. The chief secretary is likely to hold a meeting with the officials of the irrigation department and later discuss the issue with the chief minister on Saturday.

Irrigation department has paid Rs 44.61 crore as advance for Polavaram left canal works.

No comments:

Economic Event Calendar

Economic Calendar >> Add to your site

Best Mutual Funds

Recent Posts

Search This Blog

IPO's Calendar

Market Screener

Industry Research Reports

NSE BSE Tiker

Custom Pivot Calculator

Popular Posts

Market & MF Screener

Company Research Reports