Government to discuss compensation with GMR

President Abdulla Yameen has said the government will negotiate a compensation with GMR Group for prematurely annulling the agreement to develop and manage the Ibrahim Nasir International Airport (INIA).

President Yameen made the statement today while speaking to the press at INIA after concluding his highly anticipated 3-day State Visit to India.

The President said that arrangements have been made for senior officials of GMR to visit Maldives and discuss the matter of compensation soon. However, Maldives can only award a financial compensation, the President said.

“We are not talking about handing the airport’s management back to GMR. Apart from that, I have said a compensation to make amends can be considered,” President Yameen said.

He said he hopes Maldives will be able to accommodate the compensation required.

“Both sides have to discuss and come to an agreement over how much we must pay and if we can pay in installments. It is certain that we have to compensate, even if we see through the arbitration process,” President Yameen said.

The President said he hopes for an out-of-court settlement soon, as the Indian Government had sincerely requested that the GMR issue be solved amicably.