Yameen calls for suspension of Thilamalé Bridge, Rasmalé projects

Former President Abdulla Yameen has called for the suspension of the Thilamalé Bridge and Rasmalé projects, arguing that both developments place a financial burden on the state at a time of economic pressure.

Yameen made the remarks on Sunday night while addressing a gathering organised by the People's National Front (PNF).

The Thilamalé Bridge project was initiated under the previous administration through financing from the Export-Import Bank of India (Exim Bank). The project, valued at approximately US$500 million, is being carried out by Afcons Infrastructure.

The project has experienced delays and remains incomplete. Earlier this year, the government stated that progress had been slower than expected.

Yameen criticised the decision to proceed with the bridge project, arguing that the costs associated with the development would place a long-term burden on future governments.

“The Villingili [Thilamalé] Bridge should never have been undertaken. It was a very reckless move and extremely expensive. The next administration will have to repay this debt with steep interest rates,” Yameen said.

He also questioned the financing terms of the project, stating that the interest rate attached to the loan facility was significant.

Yameen further criticised the government's Rasmalé development project, which involves reclaiming 1,153 hectares of land from the Kaafu Fushidhiggaru Lagoon for housing and urban development.

The project was launched as part of the government's housing programme. Although the administration pledged to complete the reclamation phase within its first year in office, only part of the planned area has been reclaimed so far.

The project has recently attracted attention following reports regarding payments linked to its implementation. Leaked documents reportedly indicate that the Housing Development Corporation (HDC) board approved a payment of US$9.4 million to an initial contractor for work carried out on the project.

Addressing the issue, Yameen argued that the Maldives does not need to undertake reclamation at Fushidhiggaru Lagoon to address housing shortages.

He said land reclamation alone would not complete the project and noted that substantial development expenditure would still be required after reclamation.

“Therefore, Rasmalé is not something that should be pursued right now. In the current economic state of the Maldives, this should not be done. It is an immense financial responsibility and liability,” Yameen said.

According to Yameen, the state lacks the financial capacity to absorb the obligations associated with the project.

He suggested that a future administration should suspend the project and instead focus on recovering plots that were improperly allocated in Hulhumalé.

Yameen proposed constructing residential towers on such land to provide housing, arguing that this approach would avoid the costs associated with dredging and land reclamation.

He also questioned whether the Rasmalé project would address immediate housing needs, stating that alternative solutions could be implemented more quickly and at a lower cost.

The government has maintained that Rasmalé remains a key component of its housing strategy and has continued reclamation works despite delays to the original timeline.