President Abdulla Yameen launched Monday morning a US$400 million project awarded to China’s Beijing Urban Construction Group to build a new runway at the Velana International Airport.
The agreement with the Reserve Bank of India was the Maldives’ first currency swap deal.
The MMA confirmed to the Maldives Independent that it invested in a US$140 million government-guaranteed bond issued by the Maldives Airports Company Ltd on November 15, two days before the attorney general announced the payment of US$271 million in damages to the Indian infrastructure firm.
Indian infrastructure firm, GMR, has won at least US$250million in damages from the Maldivian government for abruptly cancelling a lucrative contract to develop and manage the country’s main airport
A massive project to construct a new passenger terminal at the Ibrahim Nasir International Airport has been awarded to the Saudi Binladin Group for an undisclosed amount.
Ismail Shakir, an employee of the state-owned Maldives Airports Company Ltd (MACL), was arrested for taking a photograph of Maldivian police officers taking a suspect in a ‘bomb plot’ into custody from the airport tarmac on Friday.