Friday
22nd Nov 2024
Dhivehi Edition
Economic Minister Fayyaz Ismail. Photo: President's Office
Minister of Economic Development Fayyaz Ismail has attributed the delay in the Addu airport development project to a setback in compiling the detailed project report.
Fayyaz stated as such when questioned by Dhiyares regarding the delays in development projects announced by the government. The Addu airport development is being funded by India’s EXIM Bank under the USD 800 million line of credit. An Addu road development project is also being funded by the line of credit.
A team from the Airport Authority of India arrived in Maldives in April this year to conduct an airport survey for the project. The team remained in Maldives from April 4 to April 8, speaking to government officials regarding the airport development project.
Minister Fayyaz attributed the delay of the project funded by a USD 17 million loan from India’s EXIM Bank to a delay in drafting the detailed project report.
The minister noted that the document is vital to arrange funding for the project and for tenders. However, as the document has now been completed, the development project will proceed as planned.