The Hindu Business Line : Maytas Infra to sign pacts for port, airport projects soon

In a consortium with Nagarjuna Construction Company (NCC) and SREI Finance, Maytas Infra has been awarded the Rs 1,500-crore Machilipatnam port development in Andhra Pradesh.

“We hope to sign the concessional agreement in a month or two and thereafter complete the project in 36 months,” Mr P.K. Madhav, Chief Executive Officer of the Hyderabad-based Maytas Infra, told Business Line.

The foundation stone for the deep water port is expected to be laid sometime in April.

Aviation projects

In aviation, Maytas Infra and its Austrian partner have bagged two projects with estimated total investments of about $20 million in Karnataka at Shimoga and Gulbarga. Decks have been cleared to sign the concessional agreements and the company is ready to take up the projects, Mr Madhav said.

The company has long-term interests in the aviation sector. It will bid for more projects in India with the Vienna Airport company. Internationally also the partners will bid for projects in the future, he said.

Energy sector

Maytas Infra plans to focus on the energy sector comprising power, oil and gas. Within a year of entering the power sector, the company has been able to secure orders worth Rs 500 crore.

In a short period, the company was able to get into the entire spectrum of power, in all geographies.

At present, implementation is on at six locations, at six power plants in the thermal, gas-based and hydro sector, he said.

The company is close to completing the Rs 300-crore 110 km-oil pipeline between Rajkot and Jamnagar for Gujarat State Petronet Ltd. With a projected pipeline network of 10,000 km planned in the country, the business prospects are high, Mr Madhav said.

Maytas, which has partnered Naftogas for the pipeline project, is planning to bid for EPC (engineering, procurement and construction) contracts in the offshore business. “We need to develop marine infrastructure, for which collaborations with some companies is needed,” he explained. Similarly, in the refinery segment, the company is looking out for partners to build refineries and develop petrochemical complexes.

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Maytas Infra to sign pacts for port, airport projects soon