Friday
22nd Nov 2024
Dhivehi Edition
Thila-Male' bridge
Afcons Infrastructure Fails to Provide Bank Guarantee for the Thilamale' Bridge Project
Indian PM Modi and Cyrus Mistry the son of Afcon's parent company's founder.
India's Afcons Infrastructure the company which won the bid for the Thilamale’ bridge project, has failed to provide the bank guarantee required by the government within the assigned duration.
The government provided the company a deadline of August 4. 2021 to present the bank guarantee. However, the duration has been extended by ten days as the company failed to meet the deadline. A bank guarantee of USD 150 million is required for the project expected to cost USD 550 million.
The Ministry of National Planning, Housing and Infrastructure has refused to comment.
Afcons in 2014 had donated 15 million Indian Rupees to incumbent Prime Minister of India Narendra Modi's campaign.
Organizations advocating for transparency of elections and politics in India publicized evidence of all donations received by ruling party BJP from 2014 to 2015. The data recorded a donation of over 15 million Indian Rupees from Afcons Infrastructure to BJP.
The company is a subsidiary of Shapoorji Pallonji and Company Private Limited. The company was founded by Indian-born Irish billionaire Pallonji Shapoorji Mistry. Afcons Infrastructure is also conducting the Addu road development project.
The secret Indian military base in Agaléga, Mauritius is being constructed by Afcons. The company is also in charge of the Addu road development project.
The latest update on the Thilamale’ bridge project from Planning Minister Aslam on June 28 stated that the project would be awarded to a company in ten days. More than a month has passed since then, with no comment from the government.
The current government decided to conduct Thilamale' Bridge project that was announced by former President Yameen Abdul Gayoom during his tenure.