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Tuesday, Dec 07, 2021
Outlook.com
satyam

No Mortar, Not Even Bricks

Maytas has projects in hand worth thousands of crores. At least some of them will run to a stop.

No Mortar, Not Even Bricks
No Mortar, Not Even Bricks
outlookindia.com
-0001-11-30T00:00:00+05:53

Given that Delhi Metro chief E. Sreedharan had objected to the allotment of prime land to Maytas (terming it as "selling the family silver"), the state is looking into the project once again. No land has been transferred for the Metro project yet, so it can easily call for fresh bids. For the Machilipatnam Port project, however, the government has already transferred 412 acres to Maytas.

For now, the AP government is examining the financial capability of Maytas. It needs to raise a lot of money in the immediate future to meet its capital requirements—Rs 1,200 crore for the Metro and other projects in the next two years. This may be difficult now, thanks to the Satyam fiasco and a depressed market for funds.

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