After stopping the works of Polavaram National Irrigation Project and cancelling the tenders of Polavaram ordered by previous government and all set to call for reverse tendering, AP CM YS Jagan has taken yet another sensational decision.
In a fresh shocker to Navayuga Engineering Company, CM Jagan has shunted out Navayuga Engineering Company (NEC) from Machilipatnam Port (Bandar Port). AP state government has decided to take back its 412 acres of land that were given on lease basis to the company in 2010. Navayuga, which was the lead promoter of the Bandar Port, is at the receiving end. The same company that was the chief contractor for Polavaram Project has incurred huge losses with the stalling of works and cancelling of tenders.
The construction giant, which has offices across India, was issued pre-closure termination notice on 29 July for Polavaram works over Rs 3,000 crore by AP state government. Navayuga has been asked to consent to the termination or exit the Polavaram project and settle accounts within 15 days. Just 10 days after this notice, AP state government has now asked Navayuga to move out of Machilipatnam Port project as well. This is a double blow to the construction giant.
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