Maytas Infra to sign pacts for port, airport projects soon

Hyderabad: Maytas Infra is close to signing concessional agreements for port and airport development projects in Andhra Pradesh and Karnataka.
In a consortium with Nagarjuna Construction Company (NCC) and SREI Finance, Maytas Infra has been awarded the Rs 1,500-crore Machilipatnam port development in Andhra Pradesh.
"We hope to sign the concessional agreement in a month or two and thereafter complete the project in 36 months," P.K. Madhav, Chief Executive Officer of the Hyderabad-based Maytas Infra, told Business Line.
The foundation stone for the deep water port is expected to be laid sometime in April.
In aviation, Maytas Infra and its Austrian partner have bagged two projects with estimated total investments of about $20 million in Karnataka at Shimoga and Gulbarga. Decks have been cleared to sign the concessional agreements and the company is ready to take up the projects, Madhav said.
The company has long-term interests in the aviation sector. It will bid for more projects in India with the Vienna Airport company. Internationally also the partners will bid for projects in the future, he said.
27/01/08 M. Somasekhar/Business Line/Sify

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Categories: Airports Jan 2008, New Jan 2008