December 3, 2012 / 8:58 AM / in 5 years

Maldives to take over GMR airport despite court order

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.

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

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

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