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The government of Maldives has announced plans to seek investors to develop airports in seven islands of the Maldives.
These islands are HDh. Makunudhoo, Sh. Bilehfahi, B. Thulhaadhoo, Th. Vilufushi, F. Magoodhoo, V. Fohtheyofalhu and two islands south of Raa Atoll which have yet not been decided.
According to the announcement, opportunities have been opened for interested parties to finance the development of domestic airports in seven islands under the regulation stipulating the lease of islands, land or lagoons for tourism purposes as cross-subsidies.
Under cross-subsidy basis government will lease an island for the development of a tourist resort to the investor/contractor in accordance with the rules and regulations announced by the government under an economic policy or social policy to be achieved for the general benefit of the state. In this regard, government has leased islands for airport development projects, providing ferry services, and major infrastructure projects.
The government has estimated the cost of the projects to be USD 29.9 million for HDh. Makunudhoo Airport, USD 30.6 million for Sh. Bilehfahi Airport, USD 36 million for B. Thulhaadhoo Airport, USD 40 million for F. Magoodhoo Airport, USD 38.2 million for Th. Vilufushi Airport, USD 38 million for V. Fohtheyofalhu Airport, and USD 35 million for the airport to be developed in an island in south Raa Atoll. However, the island’s name has not been disclosed yet.
In the past, the government has opened up some projects to investors on cross-subsidy basis.
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