Mackneill, Ap Deal Called Off

The deal between the Andhra Pradesh government and the London-based Duncan Mackneill for developing business and industrial infrastructure in Hyderabad and Visakhapatnam is off.

"We are looking at others for setting up the trade Centre and most likely a Malaysian unit will take up the project," Chief Minister N Chandrababu Naidu told Business Standard on Wednesday

Naidu said Duncan Mackneill did not initiate any step to start the work, even though the land was given to them some three years ago.

He agreed that the Hussainsagar foreshore land where the twin World Trade Centre towers were to come up was under litigation over ownership.

 

"But they could have started work on the Madapur residential complex where the land is free of aany dispute. They could also have gone ahead with the industrial park at Visakhapatnam and the holiday beach resort project there," Naidu pointed out.

Naidu said time was running out and the state could not wait indefinitely for Duncan Macneill to ground the project.

He doubted the technical competence of the firm to ground such a massive project involving investment of over Rs 1,000 crore.