ID :
130755
Thu, 07/01/2010 - 10:58
Auther :
Shortlink :
https://oananews.org//node/130755
The shortlink copeid
MAHB: US$373 MLN CONSTRUCTION COST FOR MALDIVES` INTERNATIONAL AIRPORT
KUALA LUMPUR, July 1 (Bernama) -- Malaysia Airports Holdings Bhd (MAHB)
announced Wednesday that construction cost for the Male International Airport in
Maldives is about US$373 million (US$1 = RM3.23).
A consortium comprising MAHB and India's GMR Infrastructure Ltd had entered
into a concession agreement with Maldives Airport Co Ltd and Maldives' Finance
Ministry and Treasury of Maldives for the expansion, operation and maintenance
of the airport on June 28.
"The construction is expected to commence by mid-2011. Construction of the
project must be completed no later than July 1, 2014," MAHB said in a statement
to Bursa Malaysia (Malaysia Exchange) Wednesday.
Under the agreement, tenure of the concession is 25 years, starting from the
date of handover, and extendable for another 10 years subject to mutual terms
and conditions between the relevant parties, the airport operator said.
MAHB said a limited liability company would be formed under Maldives laws on
or before the effective date.
"The parties to the consortium are in the process of discussing the terms
and conditions of the joint venture arrangement as well as the financing for the
investment in MIA," it said, adding that the financial effects to MAHB could not
be determined yet.
According to MAHB, the project is expected to be positive arising from the
future transportation network to be commercially developed which will integrate
a new transportation hub for Maldives.
"The concession agreement is not expected to have any material effect on the
share capital and substantial shareholdings of MAHB," it said.
MAHB also said that it aspired to move from being a company managing local
airports with a few overseas activities to being a global airport management
through carefully planned investments.
-- BERNAMA
announced Wednesday that construction cost for the Male International Airport in
Maldives is about US$373 million (US$1 = RM3.23).
A consortium comprising MAHB and India's GMR Infrastructure Ltd had entered
into a concession agreement with Maldives Airport Co Ltd and Maldives' Finance
Ministry and Treasury of Maldives for the expansion, operation and maintenance
of the airport on June 28.
"The construction is expected to commence by mid-2011. Construction of the
project must be completed no later than July 1, 2014," MAHB said in a statement
to Bursa Malaysia (Malaysia Exchange) Wednesday.
Under the agreement, tenure of the concession is 25 years, starting from the
date of handover, and extendable for another 10 years subject to mutual terms
and conditions between the relevant parties, the airport operator said.
MAHB said a limited liability company would be formed under Maldives laws on
or before the effective date.
"The parties to the consortium are in the process of discussing the terms
and conditions of the joint venture arrangement as well as the financing for the
investment in MIA," it said, adding that the financial effects to MAHB could not
be determined yet.
According to MAHB, the project is expected to be positive arising from the
future transportation network to be commercially developed which will integrate
a new transportation hub for Maldives.
"The concession agreement is not expected to have any material effect on the
share capital and substantial shareholdings of MAHB," it said.
MAHB also said that it aspired to move from being a company managing local
airports with a few overseas activities to being a global airport management
through carefully planned investments.
-- BERNAMA
