MACL signs agreement with BUCG for Male-Funadhoo monorail project
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Maldives Airports Company Limited (MACL) on Monday signed an agreement with Beijing Urban Construction Group (BUCG) to develop a monorail system connecting Malé and K. Funadhoo.
The monorail will be a key component of the Special Economic and Financial Service Zone initiative.
The project, first announced in May by Economic Minister Mohamed Saeed, will receive funding from the UAE's International Free Zone Authority (IFZA).
The agreement signing took place on Monday, with Ibrahim Shareef Mohamed, CEO and Managing Director of MACL, representing the company. BUCG's General Manager, Lu Wei, signed on behalf of the construction group.
The monorail network will link Hulhule airport island with Malé and Hulhumale, integrating with the Sinamale Bridge.
The development is part of a broader Economic Zone Development Project, which includes the creation of the West Side Commercial Hub and enhanced connectivity to the main airport.
As part of this initiative, the existing seaplane terminal on Hulhule will be relocated to Funadhoo.
The project also aims to establish shopping centres, hotels, convention facilities, and entertainment venues.
President Mohamed Muizzu has highlighted the importance of a bridged public transport system, such as the monorail, in facilitating travel for passengers, customers, and employees across the region.
