Tue, Sep 13, 2016, 09:45 AM
The Russian consortium JSC-EC-UES has got the contract of Polavaram project construction. It has 87 per cent share in contract while Transstroy holds 13 per cent. However, the Russian consortium withdrew from contract two years ago and Transstroy took lead position. But, Transstroy to maintain secrecy about the withdrawal of consortium, it appointed Prasanna Kumar as a representative of Russian firms. Now, Transstroy wants to replace L&T and another German-based company in place of Russian consortium.