Revanth asks Telangana Govt to cancel ORR lease, claims company failed to pay 10% lease amount

Telangana Congress chief, Revanth Reddy demands the cancellation of ORR lease as the company failed to pay 10% lease amount as per the contract

Telangana Congress president A. Revanth Reddy on May 24 claimed that the company that was given a lease of Outer Ring Road (ORR) for 30 years has failed to pay the 10% amount within the stipulated time and has requested the government to extend the payment date.

The Mumbai-based company IRB Infrastructure Developers Ltd was awarded the lease for ₹7,380 crore contract for Hyderabad Outer Ring Road (ORR) project, under the toll-operate-transfer (TOT) model, but has failed to pay ₹738 crore within the stipulated 30 days, he claimed.

Also Read | Revanth alleges ₹1,000 crore ‘scam’ in ORR lease for 30 years

The company has written to the Hyderabad Growth Corridor Ltd (HGCL) seeking more time for payment and the government was keen on giving the extension with officials under pressure from the IT Minister, K.T. Rama Rao, he claimed at a press conference in Hyderabad.

“I have been saying the idea of the government to lease out ORR for 30 years is a fraud and selling it to its own people through some private agency,” he alleged.

Mr. Reddy claimed that the HGCL, a subsidiary of the Hyderabad Metropolitan Development Authority (HMDA) has brought in a retired official B.L.N. Reddy as its Managing Director to sign the papers though the post has to be filled with an IAS officer. He said that IRB Infrastructure has sold 49% of its stake to a Singaporean company and that company has business relations with Mr. KTR’s friends.

“The whole cycle of leasing out ORR is a part of the bigger conspiracy to take over the revenue through some shell companies,” he claimed adding that the ORR project has the potential to earn ₹30,000 crore in 30 years.