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  to  The name ‘Maytas’ was enough draw crores of rupees worth projects. Government has allotted number of projects just at its discretion to Maytas. Nobody had any objections for such sanctions, as the name ‘Maytas Infra’ itself seems to be mesmerising everybody. Prestigious Metro Rail Project is one among such many projects, eagerly sanctioned by the state government. However, the glory of the company simply vanished with a simple statement of Mr. Ramalinga Raju, the former Chairman of Satyam Computers, about his fraud practices. While Ramalinga Raju and Co., resting in the jail to an unknown period, the beleaguered ‘Maytas Infra,’ is under severe pressure from all sides. Maytas, which is supposed to submit the report about its financial status to start the Metro Rail Project to the state government, starts searching for an ally who can save its skin. Fortunately, it finds the right partner ‘Reliance Infra,’ for its support. Reliance Infra is said to be very much interested to take over majority of shares of ‘Maytas Infra,’ and for continuing the Metro Rail Project. Both the companies are having high level meetings in this regard, may come soon with a perfectly chalked out plan.
Related StoriesMetro-Rail-to-dot-Hyderabad  The centre has cleared the ambitious Metro Rail project of the state government. Chief minster YS Rajashekar Reddy announced this at a media conference this evening. The Metro Rail will cover a distance of 71 kilometers in three routes. The routes are Jubilee Bus Station to Falaknuma, Nagole to Shilparamam and Miyapur to LB Nagar. About 71 new stations will come up along the routes. The project entails an expenditure of 9696 crores. The government proposes to complete the project in public-private participat more Good-news-for-Maytas-  Maytas Infra Ltd., which is in big troubles, ever since Satyam’s Rama Linga Raju disclosed the stunning truths about the Rs.7,136 Crore accounting fraud, has been sustaining blows from all sectors. The company has lost many contracts because of the fraud case. Even it lost the prestigious contract Hyderabad Metro Rail Project. One by one all the contracts it was awarded went off its hands, only because of the bad reputation created out of Satyam fraud case. However, after suffering for more than one year the Maytas Infra more After-footwear-and-jewellery,-its-Reliance-Milk-now!  After creating a lot of controversy with its ambitious plans in the retail sector, Reliance has now embarked on another ambitious project. Reliance is entering the dairy business in a big way. Mukesh Ambani has rolled out his plans for his dairy business in Mumbai today. Reliance will sell milk, milk based products like paneer, pizza cheese and even ice cream. Reliance wants to take on the giants in the dairy field, Amul and Mother dairy in a big way. The group is initially investing about 5,000 cr more Hyderabad-Metro-Rail-to-roll-out-soon  The prestigious Metro Rail Project is finally set to roll out in a phased manner soon. NVS Reddy took charge as the MD of the HMR project in Hyderabad on Wednesday. The Metro Rail Project will run in three routes – Tarnaka to Shiparamam, Jubilee Bus Station to Falaknuma and Miyapur to LB Nagar. A Special Purpose Vehicle has been created for this purpose. The HMR will soon call for tenders and the tender process is expected to be completed by September. The Call for Technical bidding is underway and the d more Budget-disappoints-Hyderabadis  The Union Budget for 2007-08 has come as a disappointment for Hyderabadis. A lot was expected from the Budget. The much awaited metro rail project was supposed to get a big boost in the Budget. The central government’s share in the project is 20%. However, there is no mention of the metro rail project in the Budget. Funds for upgradation of NIMS have also not found mention in the Budget. However, people till hope that the union finance minister P Chidambaram would make an announcement on the Metro rail proje more Reliance-Saloons,-Shoe-marts-and-what-not The Reliance group is slowly entering into many different sectors. After starting with Reliance Fresh, the group later started Reliance Wellness. After that it has started Reliance Footprints- selling branded footwear. Now the group plans to start Reliance saloons. The company is scouting for suitable land in Hyderabad to set up the saloons. The group wants to set up about 9 high tech saloons. But the move has alarmed the roadside barbershops. A delegation of Nayee Brahmins has submitted a memorandum to the chief minister asking him to intervene and stop Reliance from setting up saloon. They said that if big corporates enter this business, then lakhs of people would be snatched off their livelihood and thrown onto the streets. < more Maytas-seeks-Centre’s-help Faced with a massive cash-crunch, Maytas Infra, a company promoted by the Satyam fo-under, Mr Ramalinga Raju’s family, has asked the government not to hastily withdraw projects awarded to it. According to sources, Maytas Infra has written to the ministry of corporate affairs requesting for support from government agencies that have alloted various projects to it. Confirming this, the Maytas Infra chairman, Mr K. Ramalingam, said: “After the Satyam fraud surfaced, many clients, including the government departments, who awarded projects to us have become panicky. We have asked the MCA to coordinate with government departments and support us.” He said the company is commercially viable and with a little support, it more -Metro-Rail-by-2012-  The long awaited public transport system Metro Rail is finally going to be a reality soon. The state government has entered into a memorandum of understanding with the Maytas group. According to the agreement, Maytas will pay the state government a whopping sum of 30,311 crores in a phased manner. The state government will hand over 269 acres of land to the group for a period of 30 years. The project will be completed by 2012. The minimum ticket charge will be 12 rupees. The Met more Hyderabad-Second-biggest-Metro-in-India Hyderabad on Sunday notched up the distinction of becoming the second biggest metro in the country. The city will now be governed by the Hyderabad Metro development authority (HMDA). 849 villages in Ranga Reddy, Medak and Nalgonda have been merged with HMDA. Chief Minister YS Rajashekar Reddy unveiled the logo of the Hyderabad Metro Development Authority today. Hyderabad is expected to become the biggest metro in the country in the next 20 years. &nbs more Proposed-Metro-rail  The authorities have drawn up some ambitious plans for the proposed metro rail project. All the stations along the route would be built on world-class standards. The stations will have facilities like Internet, cafeteria, STD booths, ATMs, escalators and what not. and also incorporate feature like automatic ticket vending machines as well as swipe cards to regulate unauthorized entry as well as curb the malpractice of ticket less traveling. more |
