GMR Male International Airport Limited (GMIAL), a subsidiary of GMR Infrastructure Limited, has announced it has been awarded compensation of approximately US$ 270 million by the 3 member international arbitral tribunal.
Infrastructure/PPP news in Maldives
Maldives airport arbitration tribunal has ruled that such damages payable by Government of Maldives to GMR Infrastructure will also include all the sums lent by Axis Bank Singapore to GMR Infrastructure.
The Government of the Republic of Maldives has received three proposals from Chinese companies to develop the Male'-Hulhule bridge through a PPP project.
GMR Infrastructure announced that an international tribunal has declared its concession agreement to upgrade Male international airport in the Maldives was valid.
GMR reported in late April that is seeking a US$1.4 billion compensation claim over the Maldives Government decision to terminate the PPP contract to develop Male international airport.
The Government of the Republic of Maldives has extended the last date of submission of Expressions of Interest for the DBFMO Male'-Hulhule bridge project.
The Government of the Republic of Maldives represented by the Ministry of Economic Development (MED) has launched a tender to solicit Expressions of Interest from the private sector for the Male'-Hulhule bridge project.