K'taka Govt signs MoU with consortium of 3 Cos.

Bangalore, Apr 2 (UNI) The Karnataka Government today signed an MoU with a consortium of three companies - Maytas Infra, NCC Infrastructure Holdings and Vienna Enterprises (VIE) - to develop and operate airports proposed at Gulbarga and Shimoga on BOT basis.

Infrastructure Development Principal Secretary V P Baligar said, the development of airports in these cities would eventually lead to air-side and land-side developments which would include construction and development of runway, terminal, ancillary buildings and other infrastructure facilities. The construction period was 24 months from the date of signing the agreement and the concession period was 30 years, he added.

The new airports would allow atleast three flights a day initially and ten flights after the completion of work, he said.

Meanwhile, a press release from Hyderabad said the Project Development Agreement (PDA) was signed by Maytas Infra Ltd Vice-Chairman Teja Raju and Karnataka Government's Infrastructure Development Department (IDD) Deputy Secretary Renuka Prasad at the Vidhan Soudha, Bangalore.

Two separate Special Purpose Companies (SPCs) would be set up in this regard where shareholding pattern of Maytas Infra, NCC and VIE would be 37 per cent, 37 per cent and 26 per cent, respectively.

UNI VA-SIV RL PM1929