Maytas Infra bags port, airport infrastructure projects in Andhra Pradesh and Karnataka
28 January 2008
Hyderabad: Hyderabad-based, Maytas Infra, may soon sign concession agreements for port and airport development projects in the Indian States of Andhra Pradesh and Karnataka.
Maytas Infra, along with an Austrian partner, Vienna Airport, have bagged two projects, with estimated total investments of about $20 million, in the Karnataka towns of Shimoga and Gulbarga. The partners expect to sign concession agreements soon. The partners expect to bid for more projects in India as well as abroad.
Maytas Infra, as part of a consortium, along with Nagarjuna Construction Company (NCC) and SREI Finance, has also been awarded a Rs1,500-crore contract to develop the Machilipatnam port in Andhra Pradesh.
"We hope to sign the concessional agreement in a month or two and thereafter complete the project in 36 months," PK Madhav, chief executive officer, Maytas Infra said.
The foundation stone for the deep-water port may be laid sometime in April.