Date:13/01/2009 URL: http://www.thehindu.com/2009/01/13/stories/2009011350400100.htm

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Fears over Masula port project

Special Correspondent

HYDERABAD: Chief Secretary P. Ramakantha Reddy has been asked to prepare a schedule for the consortium led by Maytas Infra Limited to ground the works and complete the Machilipatnam port project within the timeframe fixed.

Chief Minister Y. S. Rajasekhara Reddy reviewed the progress of the project once again on Monday in the light of the Satyam imbroglio, but this time along with Congress MP from Machilipatnam B. Ramakrishna, local MLA Perni Nani and Animal Husbandry Minister M. Buddha Prasad, who hails from Krishna district.

Dr. Reddy reportedly sought to allay the fears of the Minister, MP and MLA about the execution of the project as the contract was awarded to a consortium and not Maytas Infra alone. The other partners in the consortium included IL & FS and all of them would be held accountable for any lapses. Meanwhile, officials are anxiously waiting for March 31 when the consortium is expected to achieve financial closure as per the original agreement.