Government scraps domestic airports deal with Malaysian company
The government has terminated contracts signed with Malaysia’s Gryphon Energy Corporation in March to build five domestic airports in four atolls at a cost of US$57.5 million.
18 Oct 2017, 9:00 AM
The government has terminated contracts signed with Malaysia’s Gryphon Energy Corporation in March to build five domestic airports at a cost of US$57.5 million.
Sami Ageel, director of the Regional Airports agency, confirmed to state media Tuesday that the deals were scrapped on September 18 because the Malaysian company – which describes itself as “incorporated with a vision to be a niche service provider for the offshore oil and gas industry” – was unable to secure financing from an EXIM bank.
The government was ready to provide a sovereign guarantee for the loan, he noted, adding that discussions are underway with other interested parties.
The regional airports were to be developed on the islands of Kulhudhufushi in Haa Dhaal atoll, Funadhoo in Shaviyani atoll, Nilandhoo in Faafu atoll, and Maavarulu and Faresmaathoda in Gaaf Dhaal atoll.
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