UK-based Lagan Construction has been selected by the Maldives government for the development of its Gan International Airport in Addu Atoll.
The selection follows a competitive bidding process launched in December 2012, in which Lagan beat off competition from Danish contractor MT Hojgaard.
Maldives State Trading Organisation (STO) managing director Shahid Ali was quoted by local media as saying that, out of the two firms, Lagan had submitted the most responsive bid in the assessment process.
As part of the project, which has been tendered under a design-build-contractor-finance method, Lagan will be responsible for developing detailed designs for the airport.
The Maldives is currently negotiating with contractors regarding the required insurances for contractor finance and other detailed documents, with the contract scheduled to be signed when the documents are finalised.
Both parties are currently in the process of working out a compensation package under the arbitration process.