Hyderabad, Dec. 9: Maytas Infra, a leading infrastructure company in the state, has backed out of Tadepalligudem regional airport project. The company has informed the state government of its inability to take up the project forcing the latter to search for another developer.
The state officials were of the view that doubts over the project viability and resource mobilisation were the two factors that might have forced the company to rethink its stand on the project. Official sources told this correspondent that similar projects in Ongole and Nellore also ran into trouble with the developers crying foul over the government demanding higher revenues from them.
Ongole is being developed as part of Vadarevu Nizampatnam Ports Industrial Corridor (Vanpic), Indu projects along with Maharastra government entered into agreement with the state to develop the airport at Nellore. The developers objected to the government fixing lease rentals and concession fee much higher than what it collects from GMR Hyderabad International Airport Limited for the international airport at Shamshabad.
"They are incomparable. The government should indeed place us below the GMR Hyderabad International Airport Limited in view of project size and viability," a developer pointed out. Sources said the government asked for six per cent lease rental from the two developers as against the two per cent collected from GMR Hyderabad International Airport Limited and similarly the concession fee was fixed at 4 per cent against 1 per cent to be charged from GMR Hyderabad International Airport Limited from 16th year of operation.
With the developers seeking changes in the Project Development Agreement prepared for the airports, the government has decided to constitute an empowered committee to look into the issue. The committee will be headed by the chief secretary and heads of finance, law, infrastructure, transport and industries departments will be its members.
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