Ministry of National Planning, Housing and Infrastructure has signed an agreement with Muni Enterprises Private Limited to finance the development of six domestic airports.
The agreement was signed by Director General at the Planning Ministry Shaana Farooq and the Managing Director of Muni Enterprises Mukhuthar Hassan. The agreement was signed after the government made the announcement to submit proposals to develop or finance the development of six domestic airports.
The planning ministry accepted proposals from contractors that wish to develop or finance the development of domestic airports under the guidelines on leasing land for resort development on a cross-subsidy basis. The ministry sought a contractor to develop of finance the development of domestic airports in Makunudhoo in Haa Dhaalu Atoll, Bilehfahi in Shaviyani Atoll, Alifushi in Raa Atoll, Thulhaadhoo in Baa Atoll, Magoodhoo in Faafu Atoll and Vilufushi in Thaa Atoll.
The ministry signed an agreement with Dhekunu Dhuni Investment Private Limited in October to finance the development of the six airports. The ministry revealed that 12 companies have submitted proposals for the projects, corresponding to an investment of USD25 million. The projects were opened for contractor financing and development, with the minimum financing amount initially set as USD5 million for each project. However, the financing policy was later revised to allow a minimum financing of USD3 million. The ministry stated the development of the airports is expected to cost USD133 million.