Relief for GMR, court stays termination order - NewsX

In a big relief to the GMR Group, a Singapore Court has stayed the Maldives Government decision to terminate its contract for modernising the Male airport. Company sources have confirmed the development and Said that GMR group has been allowed by the Singapore court to continue its work in Male airport. GMR's decision to approach courts in Singapore was taken as the contract for modernisation of the Male airport states that arbitration can take place either under Singaporean or British Laws. In 2010, GMR Male International Airport Private Limited had bagged the 511 million dollar court to build and operate the Ibrahim Nasir International airport for 25 years. Sources claimed that the Maldivian Government's letter terminating the contract was a weak one. The bone of contention is GMR's decision to levy a departure fee of $ 25 per passenger on those using the airport.

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