The reclamation of the Fushidhiggaru lagoon for President Dr. Mohamed Muizzu’s flagship project is to be awarded to Capital Marine and Civil Construction Company (CMCCC), a Sri Lankan developer carrying out large-scale projects in the Maldives.
Urbanco was due to sign the agreement with CMCCC on Tuesday night, Adhadhu has learned. However, neither Urbanco nor the government has revealed any information about the agreement or the project.
The cost and sources of financing for the project as well as the conditions for awarding the project to CMCCC have not been revealed.
Reclaiming the massive lagoon 16 km south of Male' for urban development was a campaign pledge of President Muizzu. In order to launch the project, MVR 400 million was allocated in next year's budget.
However, the Maldivian Democratic Party-majority (MDP) Parliament's budget committee omitted the MVR 400 million from the budget and re-allocated MVR 200 million to develop infrastructure in reclaimed land in Gulhifalhu, Giraavaru and Hulhumale’ where the MDP government awarded plots of land. The remaining MVR 200 million was allocated to various other projects.
The government decided to award the Fushidhiggaru project after declining to officially comment on the changes.
President Muizzu previously said the Fushidhiggaru lagoon of approximately 1,280 hectares could be reclaimed in about 10 months. The investment necessary for the development would be brought after revetment is built around the new island, he said.
CMCCC was enlisted for both the land reclamation and coastal protection.
Muizzu's pledge was to provide 65,000 plots for housing from the reclaimed lagoons of Gulhifalhu, Giraavaru and Fushidhiggaru near Male'. His manifesto includes providing 11,970 plots of land and 26,500 housing units of three-bedroom and four-bedroom apartments from Fushidhiggaru.
The world's largest dredgers would be brought to reclaim Fushidhiggaru and the project would be carried out with a formula that does not require a large amount to be spent from the state budget, President Muizzu said.
Despite the development of Fushidhiggaru at a cost of hundreds of millions of dollars, the sea between the lagoon and Male' is deep and rough. Experts say an overwater bridge cannot be built to connect the capital with the artificial island.
The decision to contract a foreign company for the reclamation comes after Adam Azim, former managing director of the Maldives Transport and Contracting Company (MTCC), said USD 100 million could be saved from the budget by awarding the project to MTCC.
