MoNPHI & Afcons Infrastructure Ltd. Seals Deal On Addu City Road Development Project Worth MVR 1.19 Billion

At a ceremony held at the Ministry of Foreign Affairs yesterday morning, the Ministry of National Planning, Housing & Infrastructure has signed with Afcons Infrastructure Limited of India for the design and build of roads and a drainage system in Addu City.

The project is said to be worth a whopping price of MVR 1.19 billion – falling under the umbrella of the USD 147.1 million loans provided the Maldives by the Exim Bank of India. In this regard, the project will be financed under USD 800 million line of credit from the Bank.