The Andhra Pradesh state government has cancelled the Rs 1,000-crore Andhra Pradesh International Centre project, a multi-utility complex at the AP Bhavan premises in
The project was cancelled as Nagarjuna Construction Company-NCC Infrastructure Holdings consortium failed to execute the Development Agreement (DA) as well as License Agreement (LA) even after expiry of the 75-day deadline. The consortium also failed to submit performance security of Rs 100 crore before the execution of DA and LA.
The Andhra government proposed to take up the project in public-private partnership on a build-operate-transfer basis. It envisaged setting up an international convention centre, guesthouse, residential quarters, hostel and dormitory facilities for government use, and service apartments on 19.84 acres at AP Bhavan.
The consortium was also required to pay Rs 25 crore towards project development expenses but had paid only Rs 5 crore so far, he pointed out. The consortium sought an extension of time by another 60 days but did not give any reason for not fulfilling the contractual obligations.
crackcrack| Company Name | CMP |
|---|---|
| Larsen & Toubro | 4108.10 |
| Rail Vikas Nigam | 298.50 |
| NCC | 166.30 |
| KEC International | 582.75 |
| Kalpataru Projects | 1296.45 |
| View more.. | |
MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.
To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.
MoneyWorks4Me ensures this through: