Muni Enterprises contracted to part-finance development of six airports

Planning Ministry and Muni Enterprises Private Limited sign financing agreement for the development of airports in six atolls on November 23, 2022. (Photo/Planning Ministry)

Planning Ministry executed a financing agreement with Muni Enterprises Private Limited on Wednesday, which will part-finance the development of six airports planned at atolls.

The government plans to develop airports at Sh. Bilehfehi, B. Thulhaadhoo, Th. Vilufushi, F. Magoodhoo, HDh. Makunudhoo and an undisclosed island in the south of Raa Atoll.

An official from Planning Ministry told Sun on Wednesday that Muni Enterprises was contracted to part-finance the development of the resorts, in return for the provision of an island for the development of a tourist resort.

Planning Ministry and Muni Enterprises Private Limited sign financing agreement for the development of airports in six atolls on November 23, 2022. (Photo/Planning Ministry)

Planning Ministry also executed a financing agreement with Dhekunu Dhuni Investment Private Limited to secure funds for the development of these airports. Whilst another financing agreement has been executed – the government has yet to announce which islands will be allotted for these two companies.

The government has estimated the value of the airports to be developed.