GMR Infra falls after Maldives cancels airport project
MUMBAI (Reuters) - Shares in GMR Infrastructure(GMRI.NS) fell 4.5 percent in early trade after Maldives cancelled its biggest foreign investment project, a $511 million deal with GMR to develop an international airport.
The cancellation of the deal signed in 2010 follows President Mohamed Waheed's failure to renegotiate terms, sources close to president's office have told Reuters. (Reporting by Abhishek Vishnoi; Editing by Gopakumar Warrier)
- Tweet this
- Share this
- Digg this
India is set to offer Nepal a landmark pact to help develop its huge hydro-electric power potential as the South Asian giant takes another step to re-assert influence among smaller neighbours where China has been forging closer ties. Full Article