Maytas Infra selected to develop airport

Maytas Infra Ltd has announced that the Infrastructure Development Department, Government of Karnataka, has selected a consortium of the Company, NCC Infrastructure Holdings Ltd (NCC) and VIE India Project Development and Holding LLC (VIE) to develop and operate airport proposed at Gulbarga and Shimoga on BOT basis. Two separate Special Purpose Companies are to be set up for the above said purpose and the details of Consortium Partners and Shareholding pattern of the Company, NCC and VIE are 37%, 37% and 26% respectively. The Construction Period is 24 months from the date of signing the agreement and the Concession Period is 30 years and the Agreement shall at the option of Consortium be extended for a further period of 30 years.