Tata-backed project in Maldives goes for arbitration

latestnews1947: After the cancellation of a multi-million deal with Indian firm GMR for the development of the Male airport in 2012, there has been a u-turn in a promise to grant two plots of land by the previous Nasheed government to Indian firms Tata Housing and 18SG Group for development, says 18SG owner Sanyogita Atrey.

The plots in Nadhee and Odeon in Male Island were promised as free sale land by the then government of President Mohammed Nasheed in 2010 to be developed into the high-end housing by the Indian firms.

The land was promised as part of a deal inked by Tata Housing and 18SG to construct 350 houses in Male, in a government buy-back initiative. The houses have been completed and handed over to the Maldivian government.

After the coup, in which Nasheed was deposed and went into exile, everything changed. The housing project got delayed. "They gave us the land then, and now the new government has taken it back," Autrey told IANS.

Tata Housing has "filed for arbitration" and has sought to settle the matter with the present government of President Abdulla Yameen.

"The matter being sub judice, we will not be able to elaborate more on the same. Tata Housing has already delivered the social housing component to the Government of Maldives last year and now we are waiting to resume the free sale part of the project," said a statement by Rajeeb Dash, Head, Corporate Marketing, Tata Housing Development Company Ltd.

"We wanted to meet the President of Maldives to arrive at a settlement. It has been so many years we have been involved in the project. Let's see what turn the case takes," Autrey added.


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