AP government okeyed for 100-storey tower in hyderabad

The government has finally awarded the prestigious 100-storey trade tower at Manchirevula to Reliance Energy Limited.

The Andhra Pradesh Industrial Infrastructure Corporation on Saturday issued a Letter of Approval (LoI) to REL of Anil Ambani for the project. It also asked the company to start work immediately.

Though REL had emerged the highest bidder for the project in July itself, the APIIC kept the project in abeyance on the directions of Chief Minister Y.S. Rajasekhar Reddy.

"We awarded the project to Reliance by formally issuing the LoA," said APIIC managing director B.P. Acharya.

"The company has been asked to make the payments as per the schedule mentioned in the bid documents and start the work." Sources said the Chief Minister decided to clear the project after approval from the Congress high command.