Business Daily from THE HINDU group of publications
Wednesday, Nov 21, 2007
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Wednesday, Nov 21, 2007 ePaper | Mobile/PDA Version |
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Modernisation Corporate - New Projects States - Andhra Pradesh Maytas, NCC will develop Gulbarga, Shimoga airports These two greenfield projects are being taken up under the public-private partnership mode. The construction period is 24 months from the date of signing the agreement. Our Bureau Hyderabad, Nov. 20 Maytas Infra announced on Tuesday that the Infrastructure Development Department of the Karnataka Government has selected a consortium of Maytas Infra, NCC Infrastructure Holdings Ltd (NCC) and VIE India Project and Holdings (VIE) to develop and operate airports proposed at Gulbarga and Shimoga on build, own and transfer (BOT) basis. These two greenfield projects are being taken up under the public-private partnership (PPP) mode. According to a statement from Maytas, two separate special purpose vehicles will be created. As per the arrangement, Maytas Infra, NCC and VIE would hold 37 per cent, 37 per cent and 26 per cent equity, respectively. The construction period is 24 months from the date of signing the agreement and the concession period is 30 years. The agreement shall, at the option of consortium, be extended for 30 years more. The development of these airports includes airside and landside work, which includes construction and development of runway, terminal, ancillary buildings and all other infrastructure. Alongside, it is proposed to take up development of hotels, convention centres, business and technology parks, and recreation centres. The overall development of these two projects is expected to generate employment in the region. More Stories on : Modernisation | New Projects | Real Estate & Construction | Andhra Pradesh
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