delay in project

Continued:
The construction activities are carried out, in coordination with various contractors like the civil, the electrical, the plumbing, lift erection, fire fighting systems, all that are essential for completion and handing over of the buildings. The impact of economic slowdown put a constraint on their fund flow, which affected timely supply of materials and performance of these contractors. Despite the support we were able to provide them with, it proved difficult for the contractors to perform as agreed with us. This cyclic effect has impacted the handing over, as stipulated in our agreements with you. Due to this unavoidable situation, which prevailed across all sectors coupled with unseasonal rains in 2007 & 2008, and paucity of construction materials like sand due to restriction on mining prevented us from handing over possession as stipulated.

Contd;.
In effect this increased the cost of building materials, the increase in USD the cost of imports of finishing materials also went up due to this. As the contract signed with you was firm, we had to absorb the additional costs. Therefore, paying compensation is not possible as the situation was beyond the control of the company.