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Maytas projects won’t be cancelled in haste: AP govt

Maytas projects won’t be cancelled in haste: AP govt
PTI
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First Published: Sun, Jan 18 2009. 04 16 PM IST
Updated: Sun, Jan 18 2009. 04 16 PM IST
Hyderabad: The Andhra Pradesh government on Sunday asserted that it would not cancel the projects awarded to Maytas Infra, promoted by the family of disgraced Satyam founder B Ramlinga Raju, “in haste” and ruled out any probe into projects by the firm.
Addressing a press conference here today, state finance minister K Rosaiah said, “We shall not act in haste. The government’s duty is to wait and see. If any of the projects are revoked, the government will have to pay a heavy penalty,” Rosaiah said.
Different government departments were “closely watching and studying” the developments on a “daily basis”, he added.
He also ruled out any probe into Maytas projects saying there was “no necessity.”
Releasing a detailed note on the projects awarded to Maytas, the finance minister said that of the total value of Rs79,418 crore irrigation projects, oly Rs5,439 crore worth of works were awarded to Maytas and its joint venture partners.
“All the projects have been awarded in the most transparent manner, following due procedures,” Rosaiah, who is also the state Cabinet spokesman, noted.
Referring to the Rs12,132 crore Hyderabad Metro Rail Project, the minister said the government could cancel the agreement entered into with the Maytas-led consortium only of the company failed to achieve financial closure as stipulated by March this year.
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First Published: Sun, Jan 18 2009. 04 16 PM IST