Construction and Infrastructure Minister Dr. Abdullah Muththalib signed the agreement alongside Pan Pacific Company Limited CEO Jirat Petnunthawong, who signed on behalf of the company.
The largest project to be brought to Huvadhoo Atoll, the Thinadhoo International Airport & Resort Development Project, is being implemented at the expense of the investor. The project, which is being implemented on a developer financing basis, will include the development of 12 resorts in Huvadhoo Atoll.
Speaking at the meeting, Construction and Infrastructure Minister Dr. Abdullah Muththalib said the Thinadhoo International Airport will boost tourism in the Atoll.
"We are not doing it as a private investment just for the purpose of building an international airport here. With that comes a lot of resorts, and beds. This contract alone has proposed to develop 12 resorts. That's more than 2,400 beds," he said.
There are currently only three resorts in Huvadhoo Atoll, with 551 beds, he said. There are currently only eight guest houses in the entire atoll, which is 116 beds, he said, adding that there are 133 uninhabited islands in the province. This project would transform the atoll, greatly increasing income for the region, as well as the nation. It will also set the atoll apart as a separate area for tourism.
Moreover, the Thinadhoo Airport Project is not just an airport. The project includes a runway that can accommodate the world's largest aircraft and an aircraft bay. In addition, a seaplane hub and air ambulance service will be established at the Thinadhoo International Airport.
These projects go hand in hand to increase the income of the southern atolls, as well as that of the Maldives as whole.