Government would have to pay compensation in GMR case: President

President Abdulla Yameen Abdul Gayoom has said that the Maldivian government would have to grant the compensation sought by GMR Group following the termination of the agreement to develop and manage the Ibrahim Nasir International Airport (INIA).

The President made this remark while speaking to reporters prior to departing to Singapore on an official visit, to participate in the Maldives Investment Forum.

“The government would have to pay the compensation sought by GMR. We are working towards reducing the compensation amount,” said President Yameen.

The agreement with GMR was terminated by the government of former President Dr Mohamed Waheed.

President Yameen said that discussions are also ongoing between the government and Singapore’s Changi Airport Group, and that assistance from such groups is necessary in the development of local airports.

He said that there is great support for the Maldives Investment Forum in Singapore, and investment will be sought during the forum for the development of a youth city in Hulhumale’, and the construction of a bridge between Male’ and Hulhule’.