Urbanco said on Friday they have completed the first stage of land reclamation of Hulhumale’ 3.
Land reclamation of Hulhumale' Phase 3, which was to be allotted under the government's 'Binveriya' land ownership scheme, began on September 22. The project is being executed in three stages.
According to Urbanco, they have now finished reclaiming 10 hectares of land from Site A as planned initially.
The land reclamation for Site B has already begun and therefore, the company has asked the public to remove all vessels in the area before Sunday, October 22. A total of 53 hectares of land is to be reclaimed from Site B.
A total of 63 hectares of land will be reclaimed from hulhumale' lagoon for Phase 3.
Urbanco awarded the project to Sri Lanka's Capital Marine and Civil Construction Company (CMC) for USD 259.2 million.
The project includes land reclamation, revetment, road construction in Hulhumale' 3, construction of a dock and a jetty as well.
Urbanco said it was the responsibility of the CMC to work in all these areas on contract financing basis. Urbanco said the company (CMC) has been using different subcontractors for various purposes.
The land reclamation was handed over to Boskalis. The total cost of the project is paid through a payment plan. According to Urbanco, the money was raised through the sale of 10 hectares of land in Hulhumale' and 9.8 hectares of land acquired from Thilafushi.
According to the current government, the area will be reclaimed and handed over to the residents of Male' city by the end of this term.
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