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GMR claims $803 mn from Maldives for terminating airport deal
Updated On: 22 November, 2014 09:56 AM IST | | IANS
<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>
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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