Price hike delays Metro

Price hike delays Metro
BENGALURU







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Work on MG Road for the Metro Rail project has been going on at snail’s pace due to non cooperation from contractors, sources told Deccan Chronicle.

“Due to the steep hike in prices of steel and other ingredients including cement and sand, the contractor has been demanding a cost escalation. However, the Metro budget has provision for cost escalation under price variation formula and the project will be completed as per the fresh schedule,” the sources added . The Metro will run via CMH Road and Sri Swamy Vivekananda Road and M G Road. The original deadline for launching commercial operations was March 2010.

BMRC has been taking possession of acquired properties and have demolished structures at Ulsoor near Police quarters. Work on MG Road and Byappanahalli is going on at full swing.

However, Mr Sivasailam, BMRC Managing Director said that there was no proposal from the contractor to hike the contract and work was going on as per schedule.