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GMR claims $803 mn from Maldives for terminating airport deal

<p>GMR Male International Airport Private Limited (GMIAL), a subsidiary of India's infrastructure major GMR Infrastructure Limited (GMR), has claimed $803 million (Rs.4,987 crore) in damages from the Maldivian government for "wrongful repudiation" of the concession agreement for the Male airport</p>

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Hyderabad: GMR Male International Airport Private Limited (GMIAL), a subsidiary of India's infrastructure major GMR Infrastructure Limited (GMR), has claimed $803 million (Rs.4,987 crore) in damages from the Maldivian government for "wrongful repudiation" of the concession agreement for the Male airport.

GMR has made a plea to the Arbitral Tribunal in Singapore for award of further damages for loss of reputation caused to it as a consequence of termination of the agreement.

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