A company has been contracted to connect Funadhoo, Velana International Airport (VIA) and Male' by monorail, the Economic Ministry has announced.
The government has planned a Special Economic and Financial Services Zone in Funadhoo.
Speaking at a press conference held today on the occasion of the government's six month anniversary, Minister Mohamed Saeed said the work of relocating the existing fuel farm in Funadhoo has already started.
The work will be completed within 18 months and drawings and other works for buildings will be carried out, he said.
"Funadhoo will be connected to Male' and Hulhule' by a single track monorail. A deal has been signed with a party to finance the work," Saeed told reporters.
The work was awarded to Dubai's International Free Zone Authority (IFZA), which is also responsible for developing and operating the Special Economic Zone (SEZ).
The Maldives International Financial Services Authority (MIFSA) has been established by the government to designate Funadhoo as an SEZ.
The government has announced that all these works will be funded by IFZA.
