Government targets public share sale in airport operator MACL over next seven days
06 Oct 2013, 2:30 PM
Neil Merrett
The government has announced its intention to begin publicly selling shares in the state-owned Maldives Airports Company Limited (MACL) – the current operator of Ibrahim Nasir International Airport (INIA).
Although the country’s Finance Ministry today told Minivan News that no timeline had been finalised for the sale owing to “legal process”, the President’s Office confirmed the state had planned to begin offering shares to the public within the next seven days.
India-based newspaper ‘The Hindu’ has meanwhile quoted an unnamed government source as claiming the administration of President Dr Mohamed Waheed was expected to hold most of the shares in the state-owned company on the back of such a sale.
The share sale has been announced despite arbitration hearings pending in Singapore into a US$1.4 billion compensation claim filed by India-based GMR, after a 25 year agreement to develop and manage a new terminal at INIA was declared void by the current government in November 2012.
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