Minister of National Planning, Housing, and Infrastructure Mohamed Aslam has stated that the government has not extended the deadline for Afcons Infrastructure Limited to complete the Greater Male' Connectivity Project (GMCP). He made the remark while addressing concerns over the sale of the India-based company at the Parliament of the Maldives.
At the sitting, Minister Aslam said that the sale of Afcons Infrastructure would not impact the progress of the projects it is undertaking in the Maldives. He also said that no changes have been made to the contracts and deadlines.
Indian media outlets have reported that the parent company, Shapoorji Pallonji Group, is looking to sell Afcons Infrastructure, which is undertaking two major infrastructure development projects in the Maldives. The company is completing the Greater Male’ Connectivity Project (GMCP), which is worth USD500 million, and the Addu City Road Development Project, worth USD77.7 million. The projects are being funded by the government and a line-of-credit loan facility from the EXIM Bank of India.