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The Hindu
The Hindu
National
Pon Vasanth B.A

Govt. draws flak for awarding Fintech City contract to firm that built poor quality flats

fintech Chennai Tamil Nadu government Tamil Nadu AIADMK Arappor Iyakkam Namakkal

The Tamil Nadu government has come under criticism for awarding the contract for developing infrastructure at the upcoming Fintech City in Nandambakkam, Chennai, to the Namakkal-based PST Engineering Construction (PSTEC), which came under the scanner for constructing poor quality apartments for the economically weaker sections at K.P. Park in Chennai.

Chief Minister M.K. Stalin on Saturday laid the foundation for the Fintech City and a Fintech Tower. According to documents available on the Tamil Nadu Government eProcurement System’s website, PSTEC was awarded a contract for ₹82.87 crore for the development of infrastructure at Fintech City.

The website showed that the same company participated in the bidding process for the construction of Fintech Tower as well. However, that contract went to URC Construction Private Limited, the lowest bidder, for ₹151.5 crore.

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