The Maldives government has awarded the contract for land reclamation in three islands to Capital Marine and Construction Private Limited for regional airport development projects.
Under the agreement, Capital Marine and Construction Private Limited will undertake land reclamation projects in Shaviyani atoll Bilehfahi, Baa atoll Thulhaadhoo, and Thaa atoll Vilufushi. These projects have a combined value of MVR 654 million.
The Director General of Ministry of National Planning, Housing and Infrastructure (MNPHI) Fathimath Shana Farooq signed on the agreement on behalf of the government while Capital Marine’s Managing Director Sivaraj Manivannan signed on behalf of the contractor.
Capital Marine was registered in the Maldives in 2014, and consists of two Sri Lankan nationals in its board. The shareholders of the contractor include its Managing Director and Capital Investment and Finance Limited, a United Kingdom-based firm.
● 56.34 hectares of land reclamation in Bilehfahi
● 44.70 hectares of land reclamation in Thulhaadhoo
● 44.70 hectares of land reclamation in Vilufushi
The airport development projects in Bilehfahi, Thulhaadhoo, Vilufushi, Makunudhoo, Berianfaru, and Magoodhoo are part of the current administration's broader initiative to expand domestic aviation in the Maldives. Physical works have already commenced in Magoodhoo.
The airports are being developed through the cross-subsidy policy, which involves providing islands to contractors for resort development. Earlier in 2022, Muni Enterprises Private Limited and Dhekunu Dhuni Investment Private Limited were contracted under this policy.
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