Male: The Maldives government will take control of an airport managed by India's GMR InfrastructureB, its defence minister said on Monday, despite an order from a Singapore court suspending the cancellation of GMR's $511 million project.
The government will take control of the airport, located in the capital Male, from Saturday, defence minister and acting transport minister Mohamed Nazim told a press conference.
GMR on Monday won a stay order from a Singapore court on the cancellation of Maldives' biggest foreign investment project and would continue to operate the airport as normal, the company said.
"The government's decision is very clear. It is non-reversible and non-negotiable. Our decision was based on legal advice we got from our lawyers in UK and Singapore," Maldives President Mohamed Waheed's press secretary Masood Imad told PTI.
03/12/12 Economic Times
