Sanjay Reddy
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Sanjay Reddy is the vice chairman of the Indian company, GVK Power and Infrastructure.
Reddy was the key negotiator in GVK's purchase of the Alpha Coal Project and the Kevin's Corner Project in Queensland from Gina Rinehart's Hancock Prospecting.[1] In mid-June 2011 it was reported that an agreement had been reached for the Indian company, GVK Power and Infrastructure, to purchase the Alpha coal project and Kevin's Corner projects for $2.4 billion. It was reported that GVK would pay $1.25 billion at the time the agreement was formally signed off on in approximately mid-July with a further two equal installments. There was no mention of Hancock retaining a share in either project.[2]
Background
A biographical note on the company's website states that as Vice-Chairman of GVK Power and Infrastructure Limited "he spearheads GVK’s businesses in key areas of infrastructure such as Power, Airports, Roads and Realty ... As the Managing Director of Mumbai International Airport Pvt. Ltd., Sanjay Reddy is currently shaping the transformation of India’s busiest airport, the Chhatrapati Shivaji International Airport, Mumbai. The US $2 billion project is a one-of-its-kind airport modernization project in the world. As Managing Director of Bangalore International Airport Limited, he is leading the expansion of Bengaluru International Airport as a gateway to South India."[3]
The biographical note also states that in 2001 he set up the biotech company, GVK Biosciences, of which he is Managing Director. "Sanjay is also on the Board of Directors of the TajGVK Hotels & Resorts Ltd; and he played a significant role in setting up the Taj Deccan hotel in Hyderabad. Educated in the United States, he combines his professional expertise and knowledge with a global perspective and a practical approach to business. He holds a Bachelors degree in Industrial Engineering from Purdue University and an MBA from University of Michigan, Ann Arbor," the biographical note states.[3]
Articles and resources
References
- ↑ Shivom Seth, "GVK Power to raise $1.2 bn debt for Hancock coal assets", Mineweb.com, July 5, 2011.
- ↑ Utpal Bhaskar, "GVK to buy 2 coal mines in Australia: Acquisition of Hancock Prospecting mines key to company’s plans of increasing capacity to 10,000MW by 2013", Livemint.com, June 16, 2011.
- ↑ 3.0 3.1 "Board of Directors", GVK website, accessed July 2011.
