GMR Infrastructure still keen to invest in airports after Maldives incident

Singapore
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India's GMR Infrastructure is still looking to invest in airports despite the loss of its concession to operate Male's Ibrahim Nasir International Airport in the Maldives.

Following a protracted disagreement over development charges at the airport, the Maldives government terminated the concession agreement with GMR Male International Airport Ltd (GMIAL) in December 2012, forcing it to hand over operation of the airport to Maldives Airport Corp.

GMIAL is 77% owned by GMR, while Malaysia Airports Holdings owns the remaining 23%.

Despite that experience, GMR says that it is not deterred from seeking more opportunities in airports around the world.

"We continue to actively look at airport investment and operation opportunities globally, and will be dealing with each one on a case-to-case basis on their individual merits and demerits," says a company's spokesperson.

The spokesperson declined to comment on whether it would pursue further legal options against the Maldives government to recover its investment in the airport.

GMIAL won a 25-year concession to operate Male International Airport in 2010, following a competitive bidding process overseen by the World Bank's International Finance Corp.

GMR also operates Delhi International Airport, Hyderabad International Airport and Istanbul Sabiha Gokcen International Airport.