21 Sep 2014

A project that was never meant to be?

When a metro rail project doubles up as a real estate project, it is bound to collapse. Ramalinga Raju of Satyam learnt it the hard way and now Larsen & Toubro (L&T) is realizing this ground reality. 

In what is widely seen as preparing the ground for walking out of the project, L&T Metro Rail Hyderabad, which is the concessionaire for the project, last fortnight wrote a letter blaming the division of Andhra Pradesh for affecting the "economic and political outlook of Hyderabad" and "thereby causing material adverse impact on the financial viability of the project". Read More..

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