GMR Infrastructure Ltd has said that an international tribunal had ruled the Maldives government should pay it $270 million in compensation for cancelling a contract to modernise and run the archipelago´s main airport.
Tag: Ibrahim Nasir International Airport
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Maldives airport shares to be sold to people
By keeping majority of shares of the Male airport Ibrahim Nasir International Airport, the Maldivian government has decided to sell remaining shares of the gateway airport to the citizens of the country.
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GMR to seek damages
Seeking a compensation of over $800 million from the government of Maldives Indian infrastructure company GMR is mulling to sue against the government in an international arbitration tribunal. GMR was forced to hand over Male airport to the Maldives government recently. The Indian company GMR, which was operating the Ibrahim Nasir International Airport at Male at an investment of $511 million, says it feels cheated for having the contract cancelled over an illegal component - airport development