The EXIM Bank of India has requested proposals from shortlisted companies for the Hanimaadhoo international airport expansion project.
According to EXIM Bank, bids for the airport expansion project will be considered until January 25.
The project is being funded under a USD 800 million line of credit from the Indian government. The line of credit arrangement will include a 5-year moratorium and a 20-year repayment period with a 1.25 percent interest rate.
According to the Maldives economic ministry, the development of Hanimaadhoo airport will be completed in two phases. The first phase will include a 2460m runway and expanding the airport to be able to land aircrafts such as Airbus 320 and Boeing 737.
At the completion of the second phase, the airport would be able to land large aircraft such as the Airbus A330. The airport will also be expanded to handle up to 1.3 million people per year as part of the project, the economic ministry said.
The project deal was signed during President Ibrahim Mohamed Solih’s official visit to India in 2018, and it is expected to be finished by June 2023.