GMR Group today said it has won an international arbitration against the Maldives government and has been awarded USD 270 million as compensation from the island nation after its contract to build an international airport in Male was arbitrary cancelled.
The USD 270-million compensation covers the debt and equity invested in the project along with a return of 17 per cent and also termination payments and legal costs. The compensation is net of taxes that GMR Male may be required to pay in the Maldives, said a statement from the company.
