Telangana Chief Minister K Chandrasekhara Rao’s bid to make Hyderabad as a Global City with Strategic Road Development Project (SRDP) is turning out to be a headache. The first phase of SRDP was to begin but the project did not kick-start until now. SRDP Phase I has been worked out to about Rs 2,600 crore.
This also includes 1000 crore for construction, 1400 crore for land acquisition and the rest for shifting of utilities and other related work. GHMC entered into agreements with contractors B Seenaiah & Company and M Venkat Rao & Company for four packages of SRDP Phase-1. But the works did not start yet due slow pace of land acquisition and other preparatory work.
According to the agreement, since the delay is due to GHMC, it has to pay escalation of cement and steel prices to the contractors, apart from giving extension of time. The compensation may come up around 300-400 Crore. This is a big amount for the project which did not begin yet.
