Business Daily from THE HINDU group of publications
Monday, June 16, 2008 ePaper | Mobile/PDA Version
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Business Daily from THE HINDU group of publications Monday, June 16, 2008 ePaper | Mobile/PDA Version |
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Update at 1415 hrs (IST)
Corporate Maytas Infra bags Gulbarga airport project MUMBAI: Maytas Infra on Monday said a consortium led by it has bagged a project to construct a greenfield airport at Gulbarga in Karnataka. Maytas Infra in association with NCC Infrastructure Holdings, VIE India Project Development and Holding LLC has b agged the contract for construction of Gulbarga airport, Maytas said in a filing to the BSE. A separate Special Purpose Company has been set up for the project in which Maytas Infra will have 37 per cent stake, NCC (37 per cent) and VIE (26 per cent), it added. The construction period of the project is 24 months from the date of signing the agreement with a concession period of 30 years extendable by an additional 30-year term. The contract also includes construction and development of runway, terminal, ancillary buildings and other infrastructure. "Maytas Infra led consortium is delighted to be partnering with Karnataka government to herald a new era in the development of the region,'' Maytas Infra Vice-Chairman Taja Raju said. The Gulbarga airport is being built on a public-private partnership basis. The consortium would develop and operate the airport on a build-operate-transfer basis. Shares of Maytas Infra were trading at Rs 480.15, up by 1.81 per cent in the afternoon tra de on the BSE. - PTI
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