The Maldivian government has decided to sell of part of its gateway airport, the Ibrahim Nasir International Airport, in capital Male, to its citizens. The airport was developed by Indian infrastructure major, GMR.
A government source confirmed the development, and added that the process will be set in motion “sometime next week”. Asked if the people will hold majority stake, the official said that the modalities had to be worked out, but the government will hold most of the shares of the airport.
Asked about the move of the Maldives government, a GMR spokesperson declined comment citing the arbitration proceedings in Singapore. GMR launched the proceedings seeking compensation, after it was evicted from operating the airport. One independent observer, when contacted, said that the sale is unlikely to go ahead as international arbitration was underway between GMR and the Maldivian government.
05/10/13 RK Radhakrishnan/The Hindu
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A government source confirmed the development, and added that the process will be set in motion “sometime next week”. Asked if the people will hold majority stake, the official said that the modalities had to be worked out, but the government will hold most of the shares of the airport.
Asked about the move of the Maldives government, a GMR spokesperson declined comment citing the arbitration proceedings in Singapore. GMR launched the proceedings seeking compensation, after it was evicted from operating the airport. One independent observer, when contacted, said that the sale is unlikely to go ahead as international arbitration was underway between GMR and the Maldivian government.
05/10/13 RK Radhakrishnan/The Hindu
