MACL establishes subsidiary for land reclamation, infrastructure
Peninsula Infrastructure has announced opportunities for companies to participate in joint land reclamation projects.
The Maldives Airports Company Limited (MACL) has established a new subsidiary to undertake land reclamation and infrastructure development projects.
According to records from the Ministry of Economic Development, the company—Peninsula Infrastructure Pvt Ltd—was registered on the 6th of this month as a wholly owned subsidiary of MACL.
The company’s board comprises five directors, with MACL Managing Director Ibrahim Shareef Mohamed also serving as its Managing Director.
Peninsula Infrastructure has announced opportunities for companies to participate in joint land reclamation projects and has also invited contractors for certain development initiatives.
While the company has not specified which dredging projects it will handle, reports have suggested that it may be involved in the Hulhumalé Phase 3 reclamation and the dredging of Fushiggaru Falhu or Rasmale.
MACL has also assumed control of the regional airports company, which has been converted into a subsidiary. The operation of all regional airports has since been transferred to it. In addition, MACL has been assigned the implementation of gym construction projects in various islands.
The decision to expand MACL’s mandate and assign non-airport projects to the company has drawn some criticism from observers who question the scope of its new responsibilities.
