Chairman of the government’s privatisation Committee and Economic Development Minister Mahmood Razee has said Indian infrastructure giant GMR is due to pay US$78 million to the government by October.
The airport was formally leased to the GMR on June 29, following the company’s successful bid in consortia with Malaysia Airports Holdings, and it will begin operating the facility in November.
Speaking to newspaper Haveeru, Razee claimed GMR would take over “full operations” in Mark 2011.
“The concession agreement specifies matters that should be settled at different periods. According to the agreement, the US$78 million that should be paid as upfront should be paid before the end of October. It can change by around four days,” he told the newspaper.
Beyond the upfront fee, the GMR-MAHB bid will see the consortium paying one percent airport profit to the government and 15 percent of the fuel trade until 2014, then 10 percent of the profit and 27 percent of the fuel trade from 2015 to 2035.
The GMR group has already begun holding workshops with airport stakeholders concerning the upgrading of the airport and construction of a new terminal at a cost of $373 million.
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Who is hood winking whom? With a court case against GMR do you think they will pay 78 million dollars> they will not even pay so much in rufiyaa.
will wait and see.