Investor appointed for Hope Island project, says home minister
According to Ihsan, discussions are expected to conclude by the end of this month, with practical work scheduled to begin in January.
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An investor has been appointed for the Hope Island project, Home Minister Ali Ihsan said on Thursday.
Speaking at a press conference held at the Ministry of Home Affairs, Ihsan said discussions between the Ministry of Tourism and the investor are under way. He said the talks include negotiations on the project framework and the selection of the island where the project will be developed.
According to Ihsan, discussions are expected to conclude by the end of this month, with practical work scheduled to begin in January.
The Hope Island project is intended to establish a correctional centre focused on rehabilitation and treatment programmes for children at risk of committing crimes. The minimum investment required for the project is USD 25 million, equivalent to MVR 385 million.
The investment includes USD 10 million for 15 hectares of land allocated for the Hope Island project and USD 15 million for the development of the facility.
Ihsan also said the Central Prison Complex project at K. Uthuru Thilafalhu remains open to investors. The minimum investment required for this project is USD 30 million, or MVR 462 million.
The Central Prison project includes 30 hectares of land valued at USD 15 million and an additional USD 15 million allocated for development.
