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On business -
On business
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Written by Administrator
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Tuesday, 21 December 2010 06:12 |
AsiaViews, Edition: 13/V/April/2008
India:
Hyderabad, April 23: A consortium that includes Hyderabad-based Maytas Infra and Nagarjuna Construction will be developing the all-weather deep-water Machilipatnam port in Andhra Pradesh on a BOT basis.
The Chief Minister, Dr Y.S. Rajasekhar Reddy, on Wednesday laid foundation stone for the construction.
The total project cost is Rs 1,590 crore, of which 30 per cent would be the equity component, said Mr Mohan Gurunath, head, strategic deals group, Maytas Infra.
Maytas has a 40 per cent stake in the project while NCC owns 11 per cent. Srei Infrastructure Finance and Visakhapatnam-based Sarat Chatterjee and Co with stakes of 38 per cent and 11 per cent are the two other partners in the project.
Construction work is expected to start in early 2009 and the port is expected to be operational by early 2011, said Mr Gurunath.
In the first phase, the port will be able to handle 15 million tonnes of cargo, to be eventually raised to 35 million tonnes. Imports of coal and exports of iron ore are expected to account for the bulk of cargo for the project, he added.
Maytas and NCC have both built up an impressive portfolio of BOT projects. NCC is partnering Maytas in the two airport projects in Karnataka.
Private sector players are now showing increasing interest in becoming port dev-elopers. The strong response to the recent public offering of Mundra Port has also made the sector a focus area for investors.
The Asian Age 24 April 2008
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Last Updated ( Tuesday, 21 December 2010 06:12 )
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