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USD 2.4 billion investment needed to make Hanimadhoo Airport feasible: Saeed

Mariyath Mohamed
25 February 2024, MVT 19:17
From the meeting with residents in Haa Alif Kelaa today.-- Photo: President's Office
Mariyath Mohamed
25 February 2024, MVT 19:17

Minister of Economic Development and Trade Mohamed Saeed has said today that although the previous government has made a large investment in the development of the Hanimadhoo Airport, they had failed to establish ways to create profitable revenues from the project.

Saeed said that in order to make the Hanimadhoo Airport project feasible, a minimum of 8000 tourist beds need to be provided in the area, and that accomplishing this would require an investment of USD 2.4 billion in the north.

"While the Hanimadhoo Airport was developed in name on a USD 130 million loan, 8000 tourist beds are needed just to make that airport feasible," Saeed said.

As per Saeed, 4000 guestrooms are needed in the north to get a profit from the airport. If considered at the rate invested in resorts now, that would amount to approximately USD 2.4 billion, he estimated.

Some key details of Hanimadhoo Airport:

- India's Exim Bank will spend USD 136 million (MVR 2 billion) on Hanimadhoo Airport

- Once completed, the airport will be able to serve 1.3 million passengers annually

- The airport runway can accommodate A320 and Boeing 737 flights