Telugu Desam Party president and Andhra Pradesh chief minister N Chandrababu Naidu is understood to be in second thoughts over the Swiss Challenge method being adopted in the development of Amaravati, the new capital of the new state.
According to sources, the finance department officials briefed Naidu over the conditions imposed by the Singapore Consortium in development of the project which they said would be detrimental to the state.
The conditions are so stringent that in the event of delay or failure of the development for any reason, the government has to pay heavy penalty to the Singapore consortium, which would dump the project midway without any reason. “Moreover, the conditions have to be approved by the Centre, since it involved Central funding and borrowings would exceed the FRBM limits,” they told Naidu.
More than the warning by the finance department officials, Naidu is more worried about the negative reports appearing in the media, including his favourite dailies Eenadu and Andhra Jyothy, which are also criticising the Singapore consortium’s conditions.
So, Naidu is trying to get the conditions toned down or cancel the Swiss Challenge method, say sources.
