Yesterday, Ministry of Economic Development announced that the Indian company, JMS Projects Ltd has won the bid for the Hanimadhoo International Airport Development Project. The project was awarded at a value of USD 136,625,386.44.
The airport development project is funded by the credit line given by India’s Exim Bank in accordance to the agreement that was signed between the bank and the Government of Maldives in 2019. The scope of the project includes the construction of a 2.46km long runway and the development of a terminal that can accommodate up to 1.3 million visitors annually. In addition to this, the project also funds the establishment of other necessary facilities that are required to widen international travel in the region.
Once the project is completed, the international airport can cater aircrafts of Airbus A320 and Boeing 737. The airport will also commence direct operations to many destinations in the world including Middle-East, South Asia, South-East Asian and even parts of South and East Africa.
With the establishment of Hanimadhoo Airport, the government wishes to eliminate the barriers that are hindering the expansion of tourism in the province. This includes providing guests the opportunity to fly directly to their holiday destinations and lowering air travel fares in the North. In doing so, it would pave way for more resorts, guesthouses and city hotels to be drawn to the North Atolls.
Furthermore, the airport will also bring economic prosperity to the people of the region. The direct and indirect influence of the airport in creating employment will lead to many job opportunities being created for the youth. Moreover, with direct flights to the North, the transportation of goods will be eased, bringing with that income and profit for businesses and the economy as a whole.
Additionally, new doors will be opened for the export market with the airport and will bring convenience for many exporting companies especially those exporting yellow fin tuna. This will in turn lead to more clients and a bigger exporting market for the country as well.
The role of Hanimadhoo International Airport will play a vital role in assisting the Government’s plan to establish a maritime hub in the North. The implementation of such plans will lead to major shipping lines of the world using the hub as it coincides with main shipping routes of many ships.
The Hanimadhoo International Project is one of the most important projects planned to be conducted by President Ibrahim Solih’s Administration. The project will be initiated in late 2022 and is set to be finished and opened for service in 2024.