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29 March, 2015 14:52 IST

Source: rss | 29-Mar-15
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Days after it was unceremoniously thrown out of Maldives airport project, GMR Infrastructure said involvement of a foreign country in Island nation's decision cannot be ruled out. GMR Airports CFO Sidharth Kapur said this to reporters in New Delhi on Wednesday.

He was responding to a query whether GMR saw involvement of a foreign country like China in cancellation of its over USD 500 million contract to build and operate the Male airport.

Maldives has refused to abide by a Singapore court decision that stayed the termination of GMR contract, and has said it will go ahead with its decision to takeover the airport by Friday.

GMR has so far refused to take Maldives' bait of compensation for the cancellation, saying it was in the nation for operating the airport and not for compensation.

Asked whether the company would appeal to the International Court of Justice, Kapur said, they expect and appeal to Maldives government to honor international law.

Kapur said the company was thankful for India's support to it since the beginning of the crisis and hoped New Delhi will take everything possible from their armoury to ensure that something amicable comes out.

India has made its stand very clear that the decision of the Maldivian government was likely to impact the bilateral relations.

Shares of the company gained Rs 0.75, or 3.9%, to trade at Rs 20. The total volume of shares traded was 3,866,079 at the BSE (Wednesday).



G M R Infrastructure Limited  

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