Hyderabad: GMR Infrastructure’s airport development project in Maldives is caught in a political wrangle as the contract offered to it by the previous government has come under the scrutiny of the incumbent government.
“There are two parts to the development. One is modernisation of an existing terminal and the other is about building a new terminal. The existing terminal is operational and the work is also going on. The works at the new terminal are halted now,” a GMR official told DNA.
According to the official, the new regulations call for one more approval to be sought from the officials. “We have already applied for that approval and we are yet to receive it,” he said.
GMR Infra, which has successfully executed the development and modernisation of two airports in India and one in Turkey, had won the bid to expand and build the Male Airport with an outlay of $300 million (`1,607 crore) jointly with Malaysia Airports in June 2010.
Other Indian entities like the Anil Ambani group and GVK were also in race with their overseas partners to bag the contract. But GMR won it for 25 years with a target for completion in 2014.
29/10/12 KV Ramana/Daily News & Analysis
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“There are two parts to the development. One is modernisation of an existing terminal and the other is about building a new terminal. The existing terminal is operational and the work is also going on. The works at the new terminal are halted now,” a GMR official told DNA.
According to the official, the new regulations call for one more approval to be sought from the officials. “We have already applied for that approval and we are yet to receive it,” he said.
GMR Infra, which has successfully executed the development and modernisation of two airports in India and one in Turkey, had won the bid to expand and build the Male Airport with an outlay of $300 million (`1,607 crore) jointly with Malaysia Airports in June 2010.
Other Indian entities like the Anil Ambani group and GVK were also in race with their overseas partners to bag the contract. But GMR won it for 25 years with a target for completion in 2014.
29/10/12 KV Ramana/Daily News & Analysis
