Marg bags Bellary airport project in Karnataka
07 August 2010
The government of Karnataka today awarded the contract for the development and operation of the Greenfield airport at Bellary to Chennai-headquartered Marg Limited, a diversified infrastructure development company.
In addition to terminal buildings, runways and control towers, Marg will also
develop access facilities and build utilities necessary to serve the airport during
the operational phase.
It will undertake development of facilities, amenities and other infrastructure like an aviation academy, exhibition / convention centre, business parks, shopping mall, flying club, theme / entertainment parks for the local dwellers and tourists.
Marg has incorporated a special purpose vehicle, Marg Krishna Devaraya Airport Pvt. Ltd for the deal.
Speaking on the occasion, GRK Reddy, chairman and managing director, Marg Limited, said, ''We are proud to be part of this venture, which on account of its strategic location, will be a giant leap towards bridging the gap between the potential growth centres and urban centres in the state.''
Bellary is on the threshold of development with many companies from diverse sectors are looking to set up facilities in the region, with steel being a key sector.
Marg will develop the entire required infrastructure for the project, which is expected to be completed in 24 months from the date of signing of the PDA.
In December 2008, Marg was awarded a 30-year contract by the government of Karnataka to design, develop, operate and manage the Greenfield airport at Bijapur under the public private partnership (PPP) model.