STO expresses interest in Gan airport

Monday, 13 December 2010 09:30

State Trading Organisation (STO) has expressed interest in developing and managing Seenu atoll Gan International Airport.

STO Managing Director Shahid Ali said the airport provides an opportunity to broaden the company’s business.

“After Supreme Global of Dubai cancelled its proposal we decided to express interest in order to broaden our business,” he said.

Shahid stressed that the company has already secured funding for the project.

Gan Airport Company Managing Director Mohamed Didi confirmed STO’s expression of interest and said the company was asked to submit its proposal and concept.

“We want to know what the new investments are and if it fits the government’s requirements. Once we get the details, it won’t take much time to complete it,” he said.

Didi further said two other companies also expressed interest, but did not disclose details of the companies.

Maldives Airports Company recently announced that the company sent its proposal to Finance Ministry to run Gan airport.

The government earlier terminated the Gan airport privatisation agreement with Dubai-based Supreme Fuel Trading FZE after the company failed to comply. Privatisation Committee said the ‘Rehabilitation, Expansion, Modernisation, Operations, and Maintenance Agreement’ signed on June 17 was terminated because the company failed to submit the airport development proposal within the required 180 days.


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