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Andhra Pradesh
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Hyderabad
Karnataka retains Maytas for airport projects
Special Correspondent
HYDERABAD: Karnataka Government has decided to retain Maytas Infra Limited to develop its two Greenfield airport projects at Gulbarga and Shimoga.
Queries addressed
A company press release here on Tuesday claimed that Karnataka Government’s apprehension about the company’s liquidity and credibility had been addressed by the reconstituted board of Maytas Infra and the Corporate Debt Restructuring package recently approved by the lenders.
The Union Ministry of Corporate Affairs had also written to the Karnataka Government recommending the continuation of airports contracts to Maytas Infra, it said.
Maytas Infra president Chander Sheel Bansal said that Karnataka’s decision emphatically re-established the company’s credibility and validated its confidence about its project development and execution abilities.
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