Do not rule out role of foreign hand in Male crisis: GMR

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Do not rule out role of of foreign hand in Male crisis: GMR. (Reuters) Do not rule out role of of foreign hand in Male crisis: GMR. (Reuters)
SummaryMaldives has refused to abide by a Singapore court decision that terminated of GMR contract.

out prematurely from the project, Kapur said, adding Maldives Attorney General has calculated that at USD 700 million.

"However, it could much more than that. Compensation due to GMR due to the illegitimate cancellation of contract by GoM may put significant and avoidable financial burden on the people of Maldives," he added.

On the other hand, GMR consortium, he said, would give more than USD 2.5 billion to the Government of Maldives over the concession period.

"Moreover, the government will receive more than $1 billion through PSC, duties and royalties," Kapur said.

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