Business Daily from THE HINDU group of publications
Thursday, Jul 17, 2008
ePaper | Mobile/PDA Version | Audio
Business Daily from THE HINDU group of publications Thursday, Jul 17, 2008 ePaper | Mobile/PDA Version | Audio |
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Corporate
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New Projects Logistics - Infrastructure Nagarjuna Construction to invest up to Rs 500 cr in airports, ports The company will focus on creating support infrastructure that will attract other industries It has been pre-qualified for the proposed Udaipur airport in Rajasthan It is also developing a deep water port in Machilipatnam with partners
M. Somasekhar Hyderabad, July 16 Infrastructure major Nagarjuna Construction Company Ltd plans to invest up to Rs 500 crore in the next three years in creating port and airport infrastructure in the country. The company in consortia is already involved in two small greenfield airport projects in Karnataka and a deep water port in Machilipatnam in Andhra Pradesh. The focus of the Rs 3,478-crore, Hyderabad-based company is to tap the potential in regional airports and non-metro (tier II cities), according to Mr Raghu V. Alluri, Associate Head (Projects). The distinctive feature of the company’s approach would be to provide value addition to the airport projects. This would be through the creation of support infrastructure that will draw industry, service sector etc., he told Business Line. Terming it as a ‘pull factor’ — which means the support infrastructure would attract sectors such as IT, hospitality, cargo business or industry that depends on airport activity — Mr Raghu said, in both the Gulbarga and Shimoga airport projects in Karnataka, this was being implemented. The company through its Infrastructure Holdings Ltd is in consortia with Maytas Infra, Hyderabad and VIE India Projects and Holdings to implement the two airport projects under public-private partnership. Looking aheadOn future plans, Mr Raghu said the company has been pre-qualified for the proposed Udaipur airport in Rajasthan. “Our focus would be on strengthening in the domestic market first and then look at global opportunities at a later date,” he said. “We will look at global opportunities on a selective basis. As of now, (we) have not bid for any. The company has an exclusive tie-up with Vienna Airports Company, Austria for the domestic market,” Mr Raghu explained. On the reason for focus on regional airports (which would be greenfield airports), he said there is a huge potential for air cargo growth in regional areas. The consortia is confident of constructing the airport in 18 months from getting all the clearances. In both Shimoga and Gulbarga, the construction phase will begin shortly. With the Karnataka Government planning for SEZs, the scope for infrastructure creation is growing. Similarly, talks are on for setting up a budget hotel, he said. In the ports sector, the company, in consortia with Maytas Infra, SREI Infrastructure Finance Ltd and Sarat Chatterjee and Co Ltd, is developing the Rs 1,590-crore all-weather deep water port at Machilipatnam in Andhra Pradesh. Nagarjuna Construction Q4 net rises 40% Maytas, NCC will develop Gulbarga, Shimoga airports More Stories on : New Projects | Infrastructure | Real Estate & Construction
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