The Government of Maldives has yesterday decided to terminate the Concession Agreement, signed on 28th June 2010 between GMR-MAHB Consortium, Maldives Airports Company Ltd, and the Government of Maldives, to lease Male’ International Airport to GMR. Government has also decided to advise the Maldives Airports Company Ltd, a 100% state-owned company, of the Government decision to terminate the agreement.
The government’s decision was based on a paper presented by the Attorney General’s Office at yesterday’s cabinet meeting. The paper was based on findings of a thorough research done for the past 9 months by a cabinet committee.
Axing GMR contract will send negative signals, India tells Maldives
(IANS): India Tuesday said the Maldives government’s decision to cancel the GMR contract to develop an airport near Male would send “a very negative signal” to foreign investors and urged it to ensure the safety and security of Indian interests and Indian nationals in that country.The Maldives cabinet Tuesday annulled the agreement made with GMR Group to operate the Ibrahim Nasir International Airport (INIA), at Hulhulé Island nearby capital Malé.
Compensation for GMR will be much less than earlier prediction- Azima
State Attorney General, Aishath Azima Shukoor has said that the compensation for the termination the Concession Agreement, signed on 28th June 2010 between GMR-MAHB Consortium, Maldives Airports Company Ltd, and the Government of Maldives, to lease Male’ International Airport to GMR, will be much less than the earlier predicted amount.
Azima made this remark answering a question raised by Miadhu Daily at the press conference held last evening at the President’s Office regarding the government’s decision to terminate the agreement signed between GMR and the former regime.
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