Summary:
“HAM will help the government in completing the project even without fully releasing the project cost to the contractor. Money was never an issue for us to take up such projects,” said Kandregula Govind, associate GM of Meil. “We are happy to be part of such a project because it gives as an opportunity to serve the children from under-privileged sections. The state government has finalized the tenders and awarded the work to the engineering and infrastructure giant Megha Engineering and Infrastructure Limited (MEIL).Interestingly, Meil has come forward to take up the project under HAM which requires the firm to shoulder 60% of the project cost in the initial phase. The state government would release 40% of the cost in three spells and see that the project is completed with the balance fund borne by the contractor.The government would repay 60% of the cost to the contractor firm within five years after the completion of the project..