The Edition


Prime Capital seeks MVR 2 bln from state in Fushi Dhiggaru case

15 February 2020, MVT 13:24
An aerial photograph of Fushi Dhiggaru lagoon. PHOTO: GOOGLE MAPS
15 February 2020, MVT 13:24

Local media outlet Mihaaru reported that Prime Capital Maldives seeks a sum of MVR 2 billion from the government in compensation for failure to handover Fushi Dhiggaru lagoon.

In 2013, during the tenure of former President Dr Mohamed Waheed Hassan Manik, the state signed an agreement to lease Fushi Dhiggaru for 50 years.

However, the state failed to handover the lagoon or create the joint venture firm stipulated in the agreement. In 2016, the state released an announcement, attempting to sell Fushi Dhiggaru lagoon for MVR 72 million. No companies have replied to the announcement expressing interest to purchase the lagoon.

Prime Capital submitted the case to Singapore's Arbitration Center in December 2019.

The local media outlet also revealed that former deputy Attorney General and current Vilimale' MP Ahmed Usham submitted a case to the Anti-Corruption Commission (ACC) in relation to the Fushi Dhiggaru case.