Central Government has finally agreed to call separate tenders for some works in Polavaram Project to speed up the work. Union Water Resources Secretary reportedly agreed to this in principle and written permissions will come very soon.
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The state government already called tenders for works worth 1483.23 Crore but Center stalled these tenders saying that new tenders will have financial implications and the works are to be done by the contractor, Transtrroy itself.
Gadkari has given one month time to the company and set a target but the company is nowhere near it. Canara Bank filing a petition before National Company Law Tribunal (NCLT), Hyderabad, urging it to declare M/s Transstroy (India) Ltd as bankrupt and initiate corporate insolvency process against the construction company also put pressure on the center.
