Senin, 08 Oktober 2007
We Go sues AIM over two proposed resorts
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| DATE: 2007-10-08 | HNS
MALE, October 8, 2007 (Haveeru News Service) -- We Go Maldives said today that it is suing Airport Investment Company (AIM) for breach of contract after agreeing to lease two islands for resort development and then going back on the agreement.
We Go\'s attorney Idham Muiz Adnan said that AIM, which was set up by the government to build resorts along with regional airports, had in writing agreed to lease Dhaalu atoll Maafushi and Gaafu Dhaalu atoll Raalheodegallaa to We Go.
AIM\'s claim that the agreements it had with We Go are void are not true, Idham claimed after filing the case at the civil court.
\"We have also requested for a court order suspending any further action by AIM over the two proposed resorts,\" the attorney said.
We Go said that on September 24, AIM had in writing agreed to lease the two islands to We Go.
\"We even had the bank guarantee ready,\" Idham said on behalf of We Go.
Maafushi, Raalheodegallaa and Thaa atoll Olhugiri, during the third phase of invitation to parties to express interest, had been leased to World Link Travels which have already paid US$15.4 million (Rf198 million) in bank guarantee, according to AIM.
World Link, which will now build 200-bed resorts on the three islands, has stakes by Ahmed Shareef, an in-law of Tourism Minister Dr. Mahmood Shougee who is also closely associated with Finance and Treasury Minister and business tycoon Qasim Ibrahim.
Shareef said that he had the best proposals submitted even in the first phase. He had earlier said that he will take legal action after World Link was disqualified from the tender process.
Shareef, who serves as Managing Director at World Link, said that the bank warranty was paid upfront to AIM on Saturday last week with a local guarantor who was not identified. The guarantee was paid with a State Bank of India cheque, according to Shareef.
However, he did not specify the interest of the guarantor in the project.
Sources have told Haveeru that World Link had changed its stake holders on October 1, and that the share holders now are Ibrahim Siyad Qasim, the elder son of Qasim; Ali Ibrahim, Qasim\'s half brother; Qasim\'s cousin Abdul Hannaan Ibrahim; and Shareef.
While Shareef holds 10 percent in stakes, the other parties each have a 30 percent stake in World Link.
AIM\'s Managing Director Ibrahim Athif yesterday said that World Link paid its bank guarantee on September 29, just a day ahead of the deadline, when AIM for the third time invited interested parties to express interest in the project. AIM is tasked with building four resorts along with the airports.
Athif said that only parties which expressed interest earlier were invited during the third phase of invitation.
\"But we invited closed bids from interested parties as well on September 24. Three parties bid following that. At the end of negotiations, we settled to seal the deal with World Link,\" he said.
The three resorts will be built with a 51-percent stake by AIM, and each island will be leased for 25 years.
\"We have only one party in the project, which is World Link, which paid bank guarantees for the three islands,\" Athif said.
Some have criticized AIM for keeping the tender period too short but Athif said that any party who is interested in a resort development project will beforehand know that a lot of money will be involved.
Athif said that towards the end of negotiations, there was no time left to wait for any more parties and that World Link was the only one left.
During the second phase of invitation, only one party proposed to build an airport together with a resort on Shaviyani atoll Farukolhu. However, no decision has been taken yet with regard to Farukolhu, according to Athif.
\"It was a local party which bid for Farukolku. But at the moment, we are facing a problem with the project regarding space as the project will require both the airport and the resort to be built on the same island,\" Athif said.
He said that after allocating space for the airport, there was no adequate space on Farukolhu for a resort. Because of that, AIM has requested the Government to allocate another island nearby where the airport can be built, Athif said.
This post was written by: Franklin Manuel
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