Omaxe plans new ventures in airport infrastructure

Real estate developer Omaxe Ltd is entering into the power transmission and airport infrastructure business in an effort to tap emerging opportunites in these sectors in one of Asia’s fastest growing economies.
The company has earmarked an initial investment of around Rs100-200 crore for its infrastructure business. Omaxe plans to set up power transmission lines in states such as Uttarakhand and Punjab. This will be done either in partnership with the state or Union government or other private agencies.
A new unit, Omaxe Power Pvt. Ltd, will manage the power business. And another wholly owned subsidiary, Omaxe Infrastructure and Construction Pvt. Ltd, will look at opportunities in upgradation of airports and building roads and freight corridors.
Omaxe reported a consolidated net profit of Rs160.35 crore for the second quarter ended September on sales of Rs712.11 crore. The company did not give comparable figures for the year-ago quarter.
19/10/07 Shabana Hussain/Livemint

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Categories: Airports Oct 2007