From Our Special Correspondent
Daijiworld Media Network - Bangalore
Bangalore, Jan18: The B S Yeddyurappa-led BJP regime Karnataka, which has been chanting the development mantra, signed a memorandum of understanding (MoU) with infrastructure development company, MARG, to establish an airport at the historical town of Bijapur at a cost of Rs 200 crore.
The proposed Greenfield airport project is expected to help boost tourism and industrial development in this horticultural hub, which is famous for grapes and pomegranates.
MARG will be investing Rs 200 crore on the project for which the the state government will provide 728 acres of land, according to Karnataka’s Tourism and Civil Aviation Minister G Janardhana Reddy.
Speaking to reporters after witnessing signing of the MoU, the minister said the airport would initially cater to airplanes like ATR 72 or ATR 42,
The minister said the state government planned to develop 10 airports, 13 airstrips and 28 heliports all over Karnataka.
The government has also identified 63,000 km of road for development and at least 12,000 km would be developed with private participation, he said.
MARG Chairman and Managing Director G R K Reddy, who inked the MoU on behalf of his company, said the project would be completed in 24 months.
Karnataka’s Infrastructure Development Department Under Secretary Manjula Geetha signed the MoU, on behalf of the state government.
Global steel giant Arcelor Mittal has already agreed to set up a steel plant in Bijapur or nearby Bagalkot with Rs 30,000 crore investment.
Bijapur, which is world-famous for its Gol Gumbaz, an architectural marvel attracts large number of domestic and international tourists.
Established in 1994 and headquartered in Chennai, MARG, is promoted by G R K Reddy, a first generation entrepreneur with over two decades of hands-on experience in Financial and Infrastructure related businesses.
The company’s business roadmap encompasses development and construction of Ports, Logistics Parks, SEZs, Townships, Apartments, Malls, Hotels, IT Parks, Power Projects, Airports and Roads.
MARG’s businesses are centered on the concept of region development. The company focuses not on standalone projects but on those that provide opportunities to exploit the synergies of its infrastructure and real estate business capabilities. By triggering growth in a barren tract of land through infrastructure creation, MARG is able to spark off economic activity that results in rapid region transformation.
Co-creation is a key element of MARG's business model - the people in the impact region are involved in the region development process. Such an increase in economic activity creates demand for social infrastructure, housing, transportation, power, water and associated services.