The Hindu Business Line : Shimoga, Gulbarga airports: Maytas Infra still in picture

Bangalore, Jan. 8 It may be early yet to read the fate of Shimoga and Gulbarga airport projects, in which Maytas Infra, an entity promoted by the Ramalinga Raju family, is co-promoter.

A team from Maytas Infra attended a meeting on small airports called by the Karnataka Infrastructure Development Department on Wednesday — the day the financial disclosures about Satyam Computer tumbled out, a senior official of the Karnataka Government said in reply to a query.

Maytas Infra is promoted by the same promoter family of the now beleaguered Satyam Computer Services Ltd. Maytas Infra won the bids for Shimoga and Gulbarga airports in April last year, in consortium with Nagarjuna Construction Company-owned NCC and Vienna International Airport’s arm, VIE India Project Development and Holding LLC.

Maytas Infra and NCC Infra are to each hold 37 per cent and VIE 26 per cent in the venture. Each project of 650 acres would involve an initial investment of Rs 50 crore, to be doubled later, it was said at the time of signing.

The IDD had on Wednesday called a meeting of the promoters of airport projects at Hassan, Shimoga, Gulbarga and Bijapur, according to the IDD Principal Secretary, Mr Arvind Jadhav.

“All three promoters came in with full teams. No one gave us any indication of wanting to quit,” he said when asked if the scene had changed for Shimoga and Gulbarga in the light of the Satyam disclosures. “Legally we have to go by what they are saying.”

Worried about impact

If Shimoga got just two bids at the time, the Maytas-NCC-VIE consortium was the sole bidder for Gulbarga. “We are definitely worried about the impact of the general recession (on the projects) and we are worried as far as the Satyam issue is concerned. We did ask all these questions,” he said, adding that none of the developers said they were not going ahead with the plans.

Both the projects in which Maytas is involved have received the environmental clearances and the Directorate General of Civil Aviation was expected to wave its green signal this month-end, he said.

Maytas Infra is also involved in the Rs 765-crore toll express corridor to Electronics City in Bangalore jointly with fellow Andhra Pradesh companies — Soma Enterprise Ltd and Nagarjuna Construction Corporation.

Related Stories:
Hyderabad Metro: What clinched it for Maytas consortium
Maytas consortium emerges lowest bidder for Hyderabad Metro project
Maytas-led consortium lays foundation for Shimoga airport

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