It is tough to miss the worry lines on the faces of S.N. Subrahmanyan, MD and CEO of L&T, Venkateswara, a farmer from Thullur village near Vijayawada, and a group of construction workers from West Bengal. The balance sheet of the construction major, the promised housing plot of the farmer and the livelihood of the migrant workers hang in balance as the Amaravati capital project of Andhra Pradesh has gone into a limbo.
Already slowed down by political hostility between its original promoter, former CM Chandrababu Naidu, and his successor Jaganmohan Reddy, Amaravati’s completion in the near future looked bleaker after the World Bank and the Asian Infrastructure Investment Bank pulled out their loan components totalling $500 million.
Unsurprisingly, Naidu was quick to blame his political rival. “The World Bank said they will come for detailed personal inspection because of complaints from Jagan’s part,” Naidu told the Andhra Pradesh assembly. “When the Centre asked for the state government’s response by...
THIS ARTICLE IS PRICELESS...
To read this piece, and more such stories in India's most exciting and exacting magazine, plus get access to our 25-year archives goldmine, please subscribe.
