MAHB and GMR Sign JV Agreement

2 November 2010 (Last Updated November 2nd, 2010 18:30)

Malaysia Airports Holdings (MAHB) has formed a joint venture with GMR Infrastructure to operate, expand and modernise Malé International Airport in the Maldives. MAHB and GMR Infrastructure will hold 23% and 77% shares respectively in the joint venture, called GMR Malé Intern

Malaysia Airports Holdings (MAHB) has formed a joint venture with GMR Infrastructure to operate, expand and modernise Malé International Airport in the Maldives.

MAHB and GMR Infrastructure will hold 23% and 77% shares respectively in the joint venture, called GMR Malé International Airport (GMIAL).

GMIAL will have a paid-up capital of RM93m ($30m) and based on the construction cost of RM1.16bn ($373m), MAHB’s portion of the cost will be RM267m ($86m), according to thestaronline.

The concession tenure of 25 years could be extended to another ten years, subject to mutual terms and conditions between MAHB and GMR.