Male/New Delhi: Four months after Maldives terminated the contract given to Indian infrastructure major GMR to develop and operate the international airport in Male, the two sides will sit down next month in London to begin the multi-million dollar arbitration process.
The preliminary hearing that will structure the arbitration process over the abrupt termination of the 25 year contract with GMR Group for the development of Ibrahim Nasir International Airport (INIA) by the Maldives government has been slated for April 10.
"It is the initial meeting of the arbitration process," Sidharth Kapur, Chief Financial Officer of GMR Group told PTI in New Delhi.
"We will sit down and talk. The GMR has not given us any figure as yet. Forensic audit is still going on," Maldives' President Mohamed Waheed's Press Secretary Masood Imad told PTI in Male.
28/03/13 PTI/Business Standard
