Indian infrastructure major
GMR and the Maldives government are set to begin arbitration talks next month over the termination of the Male airport contract.
The talks will happen in London from April 10. Four months ago, Maldives government had terminated the contract given to GMR to develop and operate the international airport in Male.
"It is the initial meeting of the arbitration process," said
Sidharth Kapur, Chief Financial Officer of GMR Group.
Maldives' President Mohamed Waheed's Press Secretary Masood Imad said, "We will sit down and talk. GMR has not given us any figure as yet. Forensic audit is still going on."
GMR had previously stated a figure of
$800 million as compensation based on their initial estimates. However, company officials said they are yet to come to a final figure.
Singapore National University Professor M Sonaraja will represent the Maldives government while GMR's arbitrator is former Chief Justice of UK Lord Nicholas Edison Phillips, reports said.
Retired senior British Judge Lord Leonard Hubert Hoffman is the arbitrator mutually agreed by GMR and the government, reports said.
The
arbitration will go on at the Singapore Arbitration Centre as mentioned in the agreement.
(With Agency Inputs) 
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