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Maytas says not heard from Karnataka on projects

Maytas says not heard from Karnataka on projects
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First Published: Thu, Jan 29 2009. 07 26 PM IST
Updated: Thu, Jan 29 2009. 07 26 PM IST
Mumbai: Indian construction firm Maytas Infra said on Thursday it has not received any official communication from the Karnataka government about its projects in the southern state.
Earlier in the day, television channel CNBC-TV18, quoting the state’s chief minister, said Karnataka would cancel projects being executed by the Satyam-linked construction firm.
“Maytas Infra has not recieved any official communication on this front. The government of Karnataka is currently reviewing the projects awarded to Maytas Infra,” the company said in a statement.
Maytas, along with Nagarjuna Construction, holds rights to develop two minor airports at Shimoga and Gulbarga in the state.
Maytas is founded by the family of Ramalinga Raju, former chairman of fraud-hit Satyam Computer Services.
Shares in the Hyderabad-based construction company, which have fallen more than 50% since India’s largest corporate scandal unfolded in early January, closed down 5% at Rs77.80.
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First Published: Thu, Jan 29 2009. 07 26 PM IST
More Topics: Satyam | Maytas | Projects | Infrastructure | Karnataka |