The Board of Directors of Maytas Infra Limited (MIL) has approved the appointment of Vimal Kaushik as the Managing Director and CEO of Maytas Infra Ltd. Mr Kaushik is an Electrical Engineer and was last employed with Punj Lloyd as the Managing Director, having been with the Punj Group for almost four decades.
In September 2009, IL&FS was inducted as the principal promoter of MIL with the mandate to put the Company back on track. Since assuming charge, IL&FS has been working towards developing a comprehensive and implementable business plan for the Company, finalizing a restructuring package with senior lenders to ensure that the Company is able to grow, securing new orders to enhance the profitability, and, strengthening internal processes and the human resource talent within the Company.
With the induction of Mr Kaushik, the Companys business profile is expected to significantly improve, both domestically and internationally
Going forward, MIL aspires to emerge as one of Indias leading Construction Companies with significant capability in EPC and BOT contracts across a range of sectors. With the emphasis on infrastructure remaining a key component of joint policy, it is expected that MIL will be well positioned to exploit these opportunities in the medium term
During his tenure with Punj, Mr Kaushik helped the Company develop and grow as a market leader in the verticals of pipelines, tankages & turnkey oil & gas mega projects. His rich experience and expertise in large construction and BOT projects across infrastructure sectors, both in India and abroad, will ensure Maytas growth over the coming years.