Tue Jun 9, 2009
Construction firm Maytas Infra Ltd said on Tuesday its board has approved starting work at Gulbarga and Shimoga airports in Karnataka immediately.
Maytas holds rights to build the two small airports, as part of a consortium that includes units of Nagarjuna Construction and Vienna International Airport.
Media reports had earlier reported the state government serving notice to Maytas asking why implementation was running behind schedule.
The Hyderabad-based company, linked to the founders of fraud-hit Satyam Computer Services, also said its government-appointed board is also working on a plan for the Hyderabad Metro and Machilipatnam Port projects.
Ahead of the announcement, the shares ended up 4.96 percent at 83.6 rupees each.
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