GMR: Grounded At The Maldives International Airport

Harvinder Singh, Rashmi Kumar Aggarwal, Aakriti Bansal

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In February 2019, local newspapers in the Maldives published unconfirmed reports that the Indian company GMR was reinvesting in the Maldives. GMR had secured a contract in 2010 for renovation/expansion of The Maldives International Airport. However, the contract created political turmoil, with opposition parties objecting to some clauses. People considered GMR closer to the incumbent President, Mohammed Nasheed. The unstable political scenario forced President Nasheed to resign amidst allegations of corruption. The new President showed hostility toward India and GMR while making overtures to China. He canceled the airport contract and awarded it to a Chinese company. GMR went to the international Tribunal in Singapore. The tribunal upheld the Maldivian government’s right to terminate the agreement but awarded GMR a compensation of US$270m. In 2019, a new government came to power in the Maldives, with Mohammed Nasheed enjoying a commanding position. The government pledged to accept the judgment of the Singapore International Tribunal. The local media discussed the possibility of the return of GMR to the Maldives after seeing some senior GMR officials in the Maldives. However, it was not clear whether it would be a good idea for GMR.

Subjek

MANAGEMENT
 

Katalog

GMR: Grounded At The Maldives International Airport
ISSN: 2045-0621
12p.: pdf file.; 130 KB
English

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Harvinder Singh, Rashmi Kumar Aggarwal, Aakriti Bansal
Perorangan
 
 

Penerbit

Emerald
New York
2024

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