The Congress government is facing widespread criticism for handing over the Musi Riverfront beautification project to Meinhardt, a Singapore-based company embroiled in numerous controversies. This decision has sparked allegations of political and financial interests influencing the tender process.
Meinhardt’s controversial projects, both in India and abroad, have added fuel to the fire. These include the Ranchi City Development Plan (Jharkhand), the Raipur Sewerage System (Chhattisgarh), and the Pune International Tech Park (Maharashtra).
Several of these projects have faced delays, budget overruns, or allegations of poor execution. Critics argue that the Musi project may face a similar fate, especially with the project’s estimated costs tripling under Meinhardt’s management.
The initial tender process for the Musi project in February saw Sai Consultancy, a Telangana-based firm, and Tractbell competing for the contract. Tractebel emerged as the lowest bidder (L-1), but following a meeting between Meinhardt representatives and Chief Minister Revanth Reddy, the government canceled the original tenders and invited new bids.
This time, Meinhardt was among the two companies that bid, with Lee Associates offering a lower quote. Despite Lee Associates being the L-1 bidder, Meinhardt was awarded the contract for ‘technical reasons’.
The project’s cost, originally pegged at Rs. 50,000 crore, has now ballooned to Rs. 1.5 lakh crore under Meinhardt’s supervision.
Questions are being raised about Meinhardt’s political connections, particularly through its ties with Singapore’s former minister Iswaran, who has been linked to corruption scandals.
Iswaran’s involvement in the Amaravati capital development plan during the tenure of former Andhra Pradesh CM Chandrababu Naidu has raised eyebrows, with many alleging that similar political strategies are at play in the Musi project.
The New Development Bank (NDB), a financial institution with connections to key political figures, has shown interest in funding both the Amaravati and Musi projects, further fueling suspicions of political maneuvering behind Meinhardt’s selection.
Meinhardt’s portfolio is littered with projects mired in controversy. From the Statue of Unity in Gujarat to the Yamuna Expressway, the company’s involvement has often led to project delays, cost escalations, or incomplete works.
The Musi Riverfront project, once expected to be a Rs. 50,000 crore endeavor, now stands at a staggering Rs. 1.5 lakh crore, raising concerns about potential mismanagement and corruption.