Maytas Infra bags Gulbarga airport project

Maytas Infra bags Gulbarga airport project
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First Published: Mon, Jun 16 2008. 02 47 PM IST
Updated: Mon, Jun 16 2008. 02 47 PM IST
PTI
Mumbai : Maytas Infra today 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 bagged 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% stake, NCC (37%) and VIE (26%), 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 filing added.
The contract also includes construction and development of runway, terminal, ancillary buildings and other infrastructure, it said.
“Maytas Infra led consortium is delighted to be partnering with government of Karnataka 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 Rs480.15, up by 1.81% in the afternoon trade on the BSE.
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First Published: Mon, Jun 16 2008. 02 47 PM IST