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HSIIDC to hire consultant to study KMP project

Comments Off on HSIIDC to hire consultant to study KMP project   |   March 11, 2014    04:35pm   |Contributed by manoja

GURGAON: The future of the KMP expressway now depends on what the private consultant – soon to be hired by the industrial authority to work on a viability report – makes of the project that has virtually hit a dead end after having missed multiple deadlines.

Recently, four consulting firms, willing to take up this study, submitted their proposals to the HSIIDC. The firm that is finally hired to conduct the study will, among other things, look into the legal nitty-gritties of the contract agreement that the HSIIDC signed with the present concessionaire.

This means that there remains a likelihood of the ‘substitution clauses’ of the contract being invoked, resulting in the scrapping of the current contract. Officials said the viability report will look into the ‘technical, commercial and legal due diligence of the various options available for the completion and implementation of the KMP project.’

For the moment, though, the HSIIDC officials are unwilling to speculate on possible measures that will determine the future course of the KMP e-way project.

http://timesofindia.indiatimes.com/city/gurgaon/HSIIDC-to-hire-consultant-to-study-KMP-project/articleshow/31751767.cms

News Published Under:   Gurgaon, Other City | Comments Off on HSIIDC to hire consultant to study KMP project



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