Fresh Hurdle for Amaravati Capital

The development of the Seed Capital in Amaravati is likely to get delayed as the Swiss Challenge issue reached Hyderabad High Court. A company, Aditya Housing and Infrastructure Development Corporation had knocked the door of the court asking the court to instruct the government to reveal the Proprietary Rights in the proposal put up by Singapore Consortium.

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The Petitioner insisted on revealing the revenue sharing model proposed by Singapore Consortium and also relax the condition that prospective bidder should have construction experience outside the country. The petitioner also requested to extend the deadline for the bids. The High Court will take a decision on the stay if necessary on Friday.

The government counsel brought to the notice of the court the petitioner in the first case do not have eligibility to participate in the bidding. The Government also informed to the court that revenue sharing details by Singapore Consortium will be in sealed cover and will be opened with all bids at a time when remaining bidders submit their bids.

The counsel also informed the court that they can not reveal the revenue sharing details due to the greater good of the people. If the revenue sharing details are open, then the other bidders will bid with 1% extra and that will detrimental to the project as whole, the counsel informed the court. If Courts put a stay on the process, then we can easily expect more delay in Speed Capital Construction.