NECL files petition in Andhra Pradesh High Court seeking stay on cancellation of Machilipatnam port agreement

Navayuga Engineering Company Limited (NECL) has filed a petition in the Andhra Pradesh High Court seeking a stay on the state government’s order of cancelling the concession agreement for the development and operation of Phase I of the Machilipatnam port project. NECL has stated that of the 5,324 acres of land required for the construction work, the state government had handed over only 412 acres. In addition, the company has stated that the government has unilaterally cancelled the agreement, while funds amounting to Rs 4.36 billion have already been spent on various works of the project.