The Maldives government issued a Sovereign Guarantee for the loan taken by Gryphon Energy of Malaysia to develop airports in five islands of the Maldives.
The project was awarded to the Malaysian firm on Tuesday. It comprises construction of airports in Haa Dhaal atoll Kulhudhuffushi island, Shaviyani atoll Funadhoo island, Faafu atoll Nilandhoo island, Gaafu Dhaal atoll Maavaarulu island and Gaafu Dhaal atoll Faresmaathoda island, amounting to a total of USD 57.7 million (MVR 889 million).
Mihaaru understands that the government issued the Sovereign Guarantee for the loan taken by Gryphon Energy in accordance with their contract.
Full details are available from the link below:
Source URL: Mihaaru-Business