Cabinet proposes government form own company to oversee Male’ airport development

The Maldives cabinet has recommended forming a government-owned company to run Ibrahim Nasir International Airport (INIA) following the state’s decision earlier this month to nationalise the site, voiding the largest ever foreign investment project in the country’s history.

President Dr Mohamed Waheed Hassan was yesterday advised to form Male’ International Airport Ltd to operate INIA after its termination of a concession agreement with India-based GMR to manage and develop the site for 25 years.

According to the President’s Office website, cabinet recommended that Male’ International Airport Ltd be formed with 100 percent government shares, while claiming full authority to operate and develop INIA through a special contract with the Maldives Airports Company Ltd (MACL).

The MACL took over management of the airport from GMR on Saturday (December 8).