Thursday, January 26, 2017

Ideal road builders out of Nagpur airport privatization race

Nagpur: After six private players responded to the offer to privatize Nagpur airport, M/s Ideal Road Builders (IRB) Group has practically dropped out of the deal. Floated by Mumbai businessman Dattatrey Mahiskar, IRB Group has a major stake in infrastructure business and had built the Mumbai-Pune Expressway. The promoters are known to be close to union surface transport minister Nitin Gadkari.
Global Vision Safety, a company in which Mahiskar is a director, was in the news four years ago as a loan by it of Rs164 crore was found in the books of Purti Group, formed by Gadkari. Mahiskar also has subscribed shares in Purti Power and Sugar Limited too.
In October 2016, six companies had responded to the request for qualification (RFQ) called by Mihan India Limited (MIL), the current operator of Nagpur airport. These included Essel Group, IRB, GVK, GMR Tata Realty, and PNC Infrastructure.
RFQ is the process of shortlisting the candidates. Based on the documents submitted by contenders in a RFQ, firms are chosen to offer financial bids under the request for proposal (RFP).
26/01/17 Shishir Arya/Times of India
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