HMDA clears Expressway dues

Staff Reporter

HYDERABAD: The Hyderabad Metropolitan Development Authority (HMDA) has finally managed a brief respite, albeit temporary, as it could garner resources to clear part of the pending amounts for the ongoing P.V. Elevated Expressway work.

The work on the 11.5 km long expressway, country’s longest elevated one, offering unhindered access towards the airport at Shamshabad had slowed down after dues to the contractors piled up to around Rs.50 crore. With near-empty coffers, forced to explore alternates, the HMDA made vain bids of raising funds through auction and then also through mortgage with financial institutions. To bail it out of the situation and ensure speedy completion of the project, hopes were also pinned on the government for help.

Luckily for the authority, payment of development charges came as a blessing and the same was used to pay around Rs.40 crore to the contractors and keep the pace of work on elevated expressway alive. “The development charges payments really came as a boon and we could clear quite a bit of the dues that were pending with contractors. Now that the amount is paid, we asked them to hasten up the work pace,” said an official.

Another Rs.110 odd crore are needed for the expressway which, after earlier delays, was finally supposed to be completed and ready for use by mid-August. However, the progress of work beingslack in view of recent developments, officials were forced to revise the deadline. They hope to complete it by end of the year. That too, if the scarcity of funds is tackled in time , they pointed out.