Sunanda Jayaseelan, reporting for India’s CNBC -TV18, has been told by GMR’s management that it has received no official word from the Maldivian authorities regarding the troubled Ibrahim Nasir International Airport (INIA) development.
CEO of the GMR Maldives Andrew Harrison told the station that the company was open for dialogue.
“I don’t really understand how there could be a lack of transparency. Our position is quite clear. We are very transparent and open,” he said.
Sidharth Kapur, Chief Financial Officer of airports at GMR told the station that the investment climate in the country was not good.
“While we have invested both debt and equity into this project, these kind of problems naturally affect the investment climate of any region,” said Kapur.
Discussing the GMR case last week, the Maldives National Chamber of Commerce and Industries (MNCCI) assured Minivan News that investor confidence was not being harmed due to the legal wrangling, though he did describe the investment climate as “challenging”.
Government aligned parties have called for the airport to be nationalised while questions concerning the legality of the deal have seen the matter taken up in a Singapore arbitration court.