Indian corporate giant GMR's $500 million Male airport project has run into rough weather, as Maldives government has temporary halted work on a new terminal building and the company has moved an arbitration court in Singapore over development charges.
GMR had won the airport contract when government headed by former President Mohamed Nasheed was in place, but the project, the largest single investment in the history of Maldives, began facing problems soon after a regime change in the country earlier this year
The new government, headed by President Mohamed Waheed, has asked GMR to temporarily halt the development of a new terminal at Ibrahim Nasir International Airport (INIA).Construction for the new terminal was part of the airport modernisation package. It started in December last year and is scheduled to open in 2014.
The dispute aggravated further after GMR moved an arbitration court in Singapore over Airport Development Charge (ADC) of $25 per passenger.
When contacted, a GMR spokesperson told PTI that GMIAL (GMR Male International Airport Pvt Ltd) has obtained requisite approvals in compliance with the prevailing regulations at the time of commencement of construction.
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GMR had won the airport contract when government headed by former President Mohamed Nasheed was in place, but the project, the largest single investment in the history of Maldives, began facing problems soon after a regime change in the country earlier this year
The new government, headed by President Mohamed Waheed, has asked GMR to temporarily halt the development of a new terminal at Ibrahim Nasir International Airport (INIA).Construction for the new terminal was part of the airport modernisation package. It started in December last year and is scheduled to open in 2014.
The dispute aggravated further after GMR moved an arbitration court in Singapore over Airport Development Charge (ADC) of $25 per passenger.
When contacted, a GMR spokesperson told PTI that GMIAL (GMR Male International Airport Pvt Ltd) has obtained requisite approvals in compliance with the prevailing regulations at the time of commencement of construction.
more.........................................