GMR Infrastructure (GMR) has claimed $803m in damages from the Maldivian Government for ‘wrongfully’ terminating the international airport contract.

Through its subsidiary GMR Male’ International Airport Private (GMIAL), GMR has also made a plea to the Arbitral Tribunal in Singapore for further compensation for loss of reputation as a result of wrongful repudiation of the concession agreement.

"GMR and Malaysia Airports had won the contract to upgrade the airport for a total cost of $511m."

The agreement was terminated by the Maldivian Government after differences between the two parties cropped up, following which, the government took over the airport operations.

At that time, the government said the contract had been awarded by the previous government through a process that was not transparent.

GMR Infrastructure is the infrastructure holding company that funds the capital requirements of various infrastructure projects across sectors. It undertakes the development of the infrastructure projects through its various subsidiaries.

GMR and Malaysia Airports had won the contract to upgrade the airport for a total cost of $511m.

GlobalData Strategic Intelligence

US Tariffs are shifting - will you react or anticipate?

Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.

By GlobalData

The 25-year concession agreement involved upgrading the terminal and setting up an additional terminal to increase the capacity of the airport. The two partners had reportedly invested $230m in the project during the two years they managed the airport.

Airport Technology Excellence Awards - Have you nominated?

Nominations are now open for the prestigious Airport Technology Excellence Awards - one of the industry's most recognised programmes celebrating innovation, leadership, and impact. This is your chance to showcase your achievements, highlight industry advancements, and gain global recognition. Don't miss the opportunity to be honoured among the best - submit your nomination today!

Nominate Now