HYDERABAD:
Malaysia will press ahead with its alliance with the GMR group notwithstanding
the setback to the Indo-Malaysian joint venture airport project in Maldives,
the southeast Asian nation's trade and industry minister said.
Mustapa Mohamad told reporters on Saturday that Malaysia is "pleased" with its partnership with GMR in developing two airports in India (Delhi and Hyderabad)) and the Sabiha Gokcen International Airport in Istanbul, Turkey. Many countries in Central Asia have ambitious plans to expand their airports and Malaysia will actively pursue these opportunities with GMR, he said.
"We are very disappointed that the (airport) contract was terminated by Male. We hope this is not going to prevent Malaysian Airports and GMR to go to other countries in future."
Malaysian Airlines, too, has joined hands with GMR to set up a maintenance, repair and overhaul centre at Hyderabad airport.
GMR InfrastructureBSE 0.82 % and government-owned Malaysia Airports Holdings modernised the Ibrahim Nasir International Airport in the Maldivian capital Male. The joint venture, owned 77% by GMR Infrastructure, was on December 8 ordered to relinquish the airport tothe Maldives government after a change of regime in the archipelago in February. The airport company's decision to impose a fee of $25 ( 1,360) on every departing passenger was the major bone of contention before the government of President Mohammed Waheed decided to order the consortium out of the country.
The joint venture, whose investment of over $500 million was the biggest foreign project in the archipelago nation, is contemplating seeking compensation of over $800 million from the government.
"We would like the Malaysian companies to be protected because there was a legitimate contract signed between Male airport and GMR-Malaysian Airports. We sign investment guarantee agreements to protect theinvestments of Malaysian entities overseas with some countries. This includes compensation in the event of nationalisation or whatever actions taken by the countries overseas. We hope to get adequate compensation," the minister said.
Citra Devi Ramiyah, Malaysia's Consul General in Chennai, said the dispute over Male airport and consequent compensation claims would be discussed at the meeting of the Malaysian Prime Minister Najib Tun Razakwith Prime Minister Manmohan Singh next week. "The Male government is willing to compensate. But it has not gone for full discussions and negotiations. The heads of governments (Malaysia and India) are going to meet in Delhi next week. There may be some decisions there," she said.
Mustapa Mohamad told reporters on Saturday that Malaysia is "pleased" with its partnership with GMR in developing two airports in India (Delhi and Hyderabad)) and the Sabiha Gokcen International Airport in Istanbul, Turkey. Many countries in Central Asia have ambitious plans to expand their airports and Malaysia will actively pursue these opportunities with GMR, he said.
"We are very disappointed that the (airport) contract was terminated by Male. We hope this is not going to prevent Malaysian Airports and GMR to go to other countries in future."
Malaysian Airlines, too, has joined hands with GMR to set up a maintenance, repair and overhaul centre at Hyderabad airport.
GMR InfrastructureBSE 0.82 % and government-owned Malaysia Airports Holdings modernised the Ibrahim Nasir International Airport in the Maldivian capital Male. The joint venture, owned 77% by GMR Infrastructure, was on December 8 ordered to relinquish the airport tothe Maldives government after a change of regime in the archipelago in February. The airport company's decision to impose a fee of $25 ( 1,360) on every departing passenger was the major bone of contention before the government of President Mohammed Waheed decided to order the consortium out of the country.
The joint venture, whose investment of over $500 million was the biggest foreign project in the archipelago nation, is contemplating seeking compensation of over $800 million from the government.
"We would like the Malaysian companies to be protected because there was a legitimate contract signed between Male airport and GMR-Malaysian Airports. We sign investment guarantee agreements to protect theinvestments of Malaysian entities overseas with some countries. This includes compensation in the event of nationalisation or whatever actions taken by the countries overseas. We hope to get adequate compensation," the minister said.
Citra Devi Ramiyah, Malaysia's Consul General in Chennai, said the dispute over Male airport and consequent compensation claims would be discussed at the meeting of the Malaysian Prime Minister Najib Tun Razakwith Prime Minister Manmohan Singh next week. "The Male government is willing to compensate. But it has not gone for full discussions and negotiations. The heads of governments (Malaysia and India) are going to meet in Delhi next week. There may be some decisions there," she said.
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