Cochin Smart Mission Limited (CSML) has warned contracting firms that incur delay in completing many smart road and other infrastructure projects of invoking the ‘risk and cost’ clause if any project has to be re-tendered, the agency’s new Chief Executive Officer Shaji V. Nair has said.
The errant firm will thus have to, among others, pay the difference in cost for which such projects are re-tendered. This comes in the wake of several projects not adhering to deadline, thus inviting all-round criticism.
The extension of the operational life of CSML till June 2024 has given a fresh lease of life to various overdue projects, whose revised deadline is set to expire in December. Among them was the Chungam bridge that would link Fort Kochi and Mattancherry and an adjacent culvert, which were expected to be ready for opening by month-end, said Mr. Nair.
