An additional MVR 1.5 billion (USD 100 million) is needed to complete the Velana International Airport (VIA) development project, Adhadhu has learned.
Due to changes made to the design, an additional USD 200 million was needed to complete VIA's new passenger terminal terminal, of which USD 100 million has now been pledged by the Saudi Fund.
The USD 350 million VIA expansion is a large-scale project financed by loans from several parties, including the Kuwait Fund, Saudi Fund, Abu Dhabi, UNK and the OPEC Fund for Development.
The government has been trying to secure the USD 100 million needed to complete the project.
President-Elect Dr. Mohamed Muizzu has said the VIA project will be completed by September 2024.
Upon completion of the project, which includes the new passenger terminal, the airport's capacity would increase two-fold with facilities sufficient to cater to 7.5 million passengers a year.
The size of the two-storey modern terminal is 78,000 square meters, which is expected to resolve space constraints faced at the current terminal.
The project also includes developing aero boarding bridges, state-of-the-art baggage handling systems, food and beverage outlets, lounges and other services.
