Foundation stone laid for Shimoga Airport

Shimoga: Hon'ble Chief Minister of Karnataka, Shri B S Yeddyurappa today laid the foundation stone for the Shimoga Airport to be constructed by a Consortium led by Maytas Infra Limited, a Hyderabad based construction and infrastructure development Company in association with NCC Infrastructure Holdings Ltd (NCC) and VIE India Project Development and Holding LLC (VIE). The estimated cost of the project is Rs. 110 crores.
Speaking on the occasion, Mr. Teja Raju, Vice Chairman, Maytas Infra said, "We at Maytas Infra are proud to be contributing to the development of Shimoga, the rice bowl of Karnataka and known for its architectural splendour and tourist spots. Shimoga Airport would essentially enhance the tourism scenario here and provide a strong impetus to the development activity in the region. The project will be executed with highest standards of terminal technologies and transport facilities.''
During the first phase, the airport will provide facilities for ATR-72 type aircrafts with a runway length of 1500 m. The second phase will render facilities for A320 type aircrafts with a runway length of 3100 m. A separate Special Purpose Company has been set up for the above said purpose where the Consortium partners Maytas Infra, NCC and VIE will have a shareholding pattern of 37%, 37% and 26% respectively. 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 years term.
Speaking on the occasion Yeddyurappa said that his Government was committed to create a congenial atmosphere for investors to start their ventures in Karnataka without being under anybody's obligation.
20/06/08 Mangalorean.com

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Categories: Airports Jun 2008, New Jun 2008