Deal with 2 more investors including Indian company for airports
Due to poor response to the announcement, the ministry re-announced the minimum offer price at USD 3 million.
By
Ahmed Mizyal
The planning ministry has signed financing agreements with two companies to build domestic airports; giving them in return, islands for resort development.
Instead of the state spending on airport development, the government has opened up opportunities for financiers for six airports in return for an island for the construction of resorts on a cross-subsidy basis. The domestic airports are to be on:
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HDh. Makunudhoo
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Sh. Bileiifahi
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An island in the southern part of Raa Atoll (island not specified yet)
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B. Thulhadhoo
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F. Magoodhoo
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Th. Vilufushi
Financing agreements have been signed with various companies already to build domestic airports in two of these islands. On Thursday, the state entered into an agreement with two other companies. They are:
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Rank Projects and Development Private Limited (a Tamil Nadu company in India)
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Angiri Resorts Management and Operations Private Limited
The ministry did not specify which local islands the two companies were financing to build airports in or which two islands would be given to develop resorts in return.
Happy Market, which imports and sells food stuff large-scale in the country, has a major stake in Angiri. The company currently operates four resorts in the Maldives:
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1-
Angaga Island Resort and Spa (Alifu Dhaalu Atoll)
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2-
Dreamland - The Unique Sea and Lake Resort/Spa (Baa Atoll)
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3-
Thulhagiri Island Resort and Spa (Kaafu Atoll)
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4-
Safari Island (Alifu Alifu Atoll)
Rank Projects, Inc. engages in construction in India.
Other financiers for domestic airports from before:
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1-
A company linked to Sunland, a local company that operates resorts
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2-
Local business Muni Enterprises
In December, the planning ministry had announced that the minimum amount to be offered by those interested in developing airports would be $5 million. However, due to poor response to the announcement, the ministry re-announced the minimum offer price at $3 million and published it in February.
