May revive GMR project: Maldives

The Maldives on Thursday gave indications that it could revive a scrapped airport project that was initially given to Indian infrastructure group GMR , as new President Abdullah Yameen promised to protect Indian investments in the archipelago during a meeting with Prime Minister Manmohan Singh.

Yameen was in India on his first foreign visit after taking over as the Maldivian president. The scrapping of the GMR project by the previous government and other problems faced by Indian investors were among the main topics of discussions between him and Singh. Defence partnerships and steps to deal with religious extremism were also on the agenda.

Besides GMR, a Tata Housing project also ran into trouble with the former Mohammed Waheed Hassan government. The two countries have now agreed to amicably resolve all differences, the leaders said while addressing a joint press conference.

Full report here Moneycontrol


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