MACL forms subsidiary for infrastructure development projects

Maldives Airports Company Limited (MACL) has established a subsidiary company to undertake land reclamation and construction projects.

According to the Economic Ministry’s business portal, the company-  "Peninsula Infrastructure Pvt Ltd" is fully owned by MACL.

The company’s managing director is Ibrahim Shareef Mohamed, who also serves as MACL’s Managing Director. Of MACL’s board members, only Mohamed Mihad has been appointed as a director of Peninsula.

Directors of Peninsula Infrastructure:

MACL has not yet commented on the establishment of the new company.

An announcement seeking partners for project implementation stated that Peninsula Infrastructure aims to undertake major sustainable development projects beneficial to the company and the country.

The company will focus on lagoon and land reclamation, as well as construction sector projects, including both government and private works. It also plans to rent out heavy vehicles for such operations and supply construction materials.

The formation of Peninsula Infrastructure comes as the government continues to assign major infrastructure and reclamation projects to state-owned enterprises.

MACL itself has previously undertaken land reclamation works for airport development on several islands.