The firm, which has been embroiled in several controversies, has raised serious concerns about transparency and accountability in the execution of the Rs 1.5 lakh crore Musi project
Hyderabad: Despite mounting public outrage and criticism from the Opposition, the State government is moving forward with the Musi Riverfront Development Project and has awarded the consultancy contract to a consortium led by Meinhardt Singapore Private Limited. The selection of this firm, which has been embroiled in several controversies, has raised serious concerns about transparency and accountability in the execution of the Rs 1.5 lakh crore project.
In an official order issued on October 4, Principal Secretary for Municipal Administration and Urban Development, M Dana Kishore, confirmed the awarding of the contract for “aggregate master planning” to a consortium that includes Meinhardt Singapore, Cushman & Wakefield India and RIOS Design Studios. The consultancy fee is set at Rs.166 crore, agreed upon at a “negotiated offer price” – a move that has drawn sharp criticism for the lack of transparency in the tendering process.
The government’s decision to bypass global tenders for such a high-profile project has added fuel to the fire. The order raised eyebrows as it did not clarify the criteria used for selecting the Meinhardt-led consortium or the justification for the “negotiated offer price”. The absence of global tenders for such a massive project has only fueled further suspicion. “Why was there no open tender for a project of this magnitude? What criteria were used to select this particular consortium?” questioned a senior BRS leader.
The controversy is further amplified by Meinhardt’s troubled track record. The firm is currently under investigation in multiple countries for its involvement in various scams. In India, the Anti-Corruption Bureau of Jharkhand is probing irregularities in the appointment of Meinhardt as a consultant for the Ranchi sewerage-drainage project, dating back to 2005. The Comptroller and Auditor General (CAG) also had flagged anomalies in Meinhardt’s work on that project, while courts questioned the firm’s eligibility.
Meinhardt was also entangled in Pakistan’s infamous Creek Marina scam. In 2023, Pakistan’s Federal Investigation Agency (FIA) registered a case against Meinhardt’s owners and senior officials for their alleged role in a multi-billion-rupee residential project scandal. The firm had partnered with Pakistan’s Defence Housing Authority to develop Creek Marina, a luxury housing project, but failed to deliver the flats to buyers after 19 years, allegedly embezzling over Rs.30 billion.
Media reports from Pakistan reveal that the FIA’s investigation has implicated several top executives of Meinhardt, including Omar Shahzad, who met with Chief Minister A Revanth Reddy in February this year to express interest in the Musi project. The timing of the partnership between the Congress government here and Meinhardt has raised eyebrows, especially given the firm’s history. Shortly after the meeting, the estimated cost of the Musi Riverfront Development Project, initially put at Rs.50,000 crore, has ballooned to Rs.1.5 lakh crore.
The BRS has been critical of the State’s handling of the project. “Chief Minister Revanth Reddy is pushing forward with a tainted company that has left a trail of financial scandals across South Asia. Telangana’s taxpayers deserve better,” said a senior BRS spokesperson. The BRS leadership has vowed to intensify protests and demand better accountability as well as transparency.
