Maldives to take over GMR airport despite court order

MALE Mon Dec 3, 2012 2:26pm IST

An aeroplane prepares to land at an airport in New Delhi June 4, 2008. REUTERS/Adnan Abidi/Files

An aeroplane prepares to land at an airport in New Delhi June 4, 2008.

Credit: Reuters/Adnan Abidi/Files

Related Topics

Stocks

   

MALE (Reuters) - The Maldives government will take control of an airport managed by GMR Infrastructure(GMRI.NS), its defence minister said on Monday, despite an order from a Singapore court suspending the cancellation of GMR's $511 million project.

The government will take control of the airport, located in the capital Male, from Saturday, defence minister and acting transport minister Mohamed Nazim told a press conference.

GMR on Monday won a stay order from a Singapore court on the cancellation of Maldives' biggest foreign investment project and would continue to operate the airport as normal, the company said.

(Reporting by J.J. Robinson; Editing by Muralikumar Anantharaman)

FILED UNDER:
  • Most Popular
  • Most Shared

DEFENCE

REUTERS SHOWCASE

Power Theft

Power Theft

India to invest $4 billion to tackle power theft  Full Article 

Debt Funds

Debt Funds

India monitors foreign flows into debt funds, may tighten rules  Full Article 

Bulgari Back in India

Bulgari Back in India

CEO: we shouldn’t have left India so we’re back  Full Article 

 Hindu "Modi-fication"

Hindu "Modi-fication"

Fears grow about Hindu "Modi-fication" of education  Full Article 

Weak Credit

Weak Credit

Hard to hit tax revenue target, credit weak - Jaitley  Full Article 

China Rate Cut

China Rate Cut

China surprises with interest rate cut to spur growth  Full Article 

Gold Imports

Gold Imports

RBI cautious on response to gold import surge  Full Article 

Economic Corridor

Economic Corridor

China commits $45.6 billion for economic corridor with Pakistan  Full Article 

Overseas Funds

Overseas Funds

RBI says overseas borrowed funds can be parked with banks in India  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device  Full Coverage