KARACHI, Dec 5: Three suspected militants were killed in a shootout with police in Korangi area here on Monday, leading to recovery of an industrialist kidnapped about two months ago for Rs600 million in ransom, officials said. A large quantity of explosives and weapons was seized in the operation.

Riaz T. Chinoy, the chief of a leading steel pipes and tubes manufacturing company, was kidnapped on Oct 7 from Landhi area by some half a dozen armed men.

The investigators said it took almost two months to trace the hideout of the kidnappers as the family was receiving phone calls for ransom from the tribal areas and Afghanistan.

“Police raided a rented house in Allahwala Town in Korangi after tracking down their (kidnappers’) location,” said Ahmed Chinoy, the Citizen-Police Liaison Committee chief who assisted the police investigation.

“As the policemen closed in, they came under gunfire that triggered heavy firing from both sides. It lasted more than an hour and finally police took over the control of the situation and three kidnappers were killed in the shootout. We also recovered Mr Chinoy safe and sound.”

Police officials suspected that the number of kidnappers was higher and some of them escaped amid the shootout taking advantage of darkness in the area.

But they were convinced about the background and association of the kidnappers.

“They are definitely militants associated with some banned outfits,” said Ghulam Subhani of Police’s Anti-Violent Crime Cell referring to arms and explosives recovered from the hideout.

“We have not counted them yet but a large number of grenades have been recovered from the home. Similarly, we have also seized bags of explosives and every component that is used for making bombs.”

He said that police were already convinced that the industrialist was kidnapped by the militants after the investigators looked into the records of phone numbers being used to call the victim’s family for ransom demand.