Maytas Infra Ltd (MIL) has announced that it has bagged the Rs 790-crore Pune-Solapur road contract from IL&FS Transportation Networks Ltd (ITNL). The project is to be completed in 20 months.
“The award is a major breakthrough for Maytas Infra as it has not been able to bid for any contract in the last several months after the collateral damage suffered by it due to events related to Satyam. This contract would go a long way in boosting the image of Maytas Infra in the market and restoring the confidence among its stakeholders,” the company stated in a press release on Thursday.
MIL has been promoted by promoted by the kin of Computer Services founder, B Ramalinga Raju. It plunged into a crisis after Raju confessed to fudging of accounts at Satyam in January.
The Pune-Sholapur section of the NH-9 had been awarded to ITNL on a DBFOT (design, build, finance, operate and transfer) basis by National Highways Authority of India. MIL submitted a competitive offer to ITNL last month.
