The Government says there won't be any impact on the projects being undertaken by India's AFCONs company despite its sale.
This comes after Indian media reported that Shapoorji Pallonji Group, controlled by billionaire Shapoor Mistry, is weighing asset sales including a controlling stake in its flagship engineering firm Afcons Infrastructure Pvt Ltd that could raise about $2 billion.
Answering a question by a local journalist at the weekly Press Conference held by President's Office today, Presidential Spokesperson Miuvaan Mohamed said companies buying and selling their assets was a normal occurrence.
Miuvaan assured that even if Afcons was sold, it would not halt the Thila Male' bridge project and that the different stages of the project would continue.
He said that the bridge project would continue as per the schedule.
Miuvaan added that Afcons has not shared any information regarding its sale with the Government.
AFCONs have been contracted to complete the MVR 8.2 billion bridge project in Male' as well as the MVR 1.1 billion road development project in Addu.
Indian media reported yesterday that the SP Group is working with an adviser to seek buyers for its holdings in Afcons Infrastructure Ltd., a Mumbai-based infrastructure construction company.
