Sources in GMR said the company is not considering any proposal for reduction in the compensation claim.
GMRs reactions are in response to a Maldivian media report that quoted President Yameen Abdul Gayyoom as saying that his government would have to pay compensation to the Indian company at any cost.
We believe that the government will have to pay compensation to GMR at any cost. Were trying to get the sum that we have to pay lowered were trying to get it reduced to a more plausible sum, the Maldivian news portal Haveeru Online quoted President Gayyoom as saying.
In 2012, the $500 million airport development project was unilaterally scrapped by the government headed by then President Mohamed Waheed. The case had gone for arbitration at the Singapore Court of Appeal.
Under the contract signed in 2010, GMR was to modernise and operate the airport for 25 years.