President promises to launch a major project the likes of iHaven in F. Atoll this year

President Abdulla Yameen Abdul Gayoom has said that the government would start a major project such as iHaven, in F. Atoll this year.

He made the statement during ceremony held to inaugurate sewage system in H. A. Hoarafushi.

President Yameen said that government would start the major project in F. Atoll in September, and that the country which had expressed interest towards the project in F. Atoll was also a country which had expressed interest towards the iHaven project in A. A. Atoll.

“Sun” has been informed that the country is Saudi Arabia.

iHaven is one of the biggest projects the government has planned to run in the atolls.

The major six components of the iHaven project includes a seaport, airport, bunkering services, shopping malls, real estate and tourism.

Fisheries Minister Dr. Mohamed Shainee and Economic Minister Mohamed Saeed had traveled to Saudi Arabia in November, 2015 to find investments for iHaven project.

Upon return from the trip, Shainee had said that discussions had been held with Saudi government regarding the project, and that both governments had come to an agreement regarding investment.

President Yameen said in his speech that despite changes being seen in the map of development, running major projects simultaneously was not something anyone can do.

He said that government needed to postpone some of those projects despite foreign investment until the country develops capacity to run such projects at low cost to keep expenditure down.