RACL expresses interest in helicopter services under joint venture with two UAE companies

Aug 21, 2024, 10:04 AM
Signing of joint venture agreement. -- Photo: RACLr

Signing of joint venture agreement. -- Photo: RACLr

Regional Airports (RACL), a government-owned company, has expressed interest in providing helicopter services in the Maldives.

RACL expressed interest in providing the service under a joint venture (JV) with two UAE companies, Air Chateau and Wings Capital Management.

The Transport Ministry opened Expressions of Interest (EOI) for the provision of helicopter services for emergency use and tourist transportation on August 6.

RACL Managing Director Ahmed Mubeen confirmed to Adhadhu that the EOI has been submitted under the announcement. However, he did not elaborate on the agreements with the UAE companies.

The deadline for submission of EOI ended on August 19. It is unclear whether any other companies have expressed interest.

According to the Transport Ministry's announcement, the government was seeking a company that would provide safe and efficient helicopter services despite the challenges which may arise in an island country like the Maldives.

The Cabinet approved the introduction of helicopter service and announced on January 28 that "it will begin very soon."

Later on March 15, President Dr. Mohamed Muizzu stated that the service would be launched before the end of this year.

Comments

Read More

Latest News

Priority should be sale of assets to generate immediate liquidity

Former President Mohamed Nasheed urged the Maldives to prioritize selling assets for immediate liquidity rather than long-term projects like the $20 billion Rasmalé development. He argued the UAE-backed waterfront deal will not provide the urgent cash flow needed to resolve the nation's current financial crisis.

Police seek charges against six men for assaulting officers

Maldives Police are seeking charges against six men for assaulting officers during a drug search in Maafushi. Five suspects remain in custody, while one was released by the court. Authorities have also appealed the release of a seventh individual involved in the August incident.

No tax concessions for UAE developer in Rasmale' project

The Maldives government awarded the $20 billion Rasmalé project to UAE developer Eagle Hills without tax concessions or exemptions. All business activities will follow national tax laws, with payments processed through local banks. The state expects over $11 billion in revenue from sales fees and commercial revenue sharing.

No details on size and value of land given to Dubai company

The Maldives government signed a $20 billion deal with Dubai’s Eagle Hills to develop a massive integrated zone in Rasmalé. While the project promises 54,000 jobs and housing, officials have withheld specific details regarding the land size, valuation, and lease terms. The area is expected to operate as a special economic township.

Rasmale' investor to build 5,000 housing units in Hulhumale'

The Maldivian government has partnered with UAE-based Eagle Hills to build 5,000 housing units in Hulhumalé using a contractor financing model. This agreement follows a massive $20 billion deal for the firm to develop Rasmalé. The project will feature luxury residences and a world-class marina without impacting existing housing plans.

AMFA concludes first Junior Lifeguard Program

The Australia Maldives Friendship Association successfully completed its first Junior Lifeguard Program pilot in Thulusdhoo and Fuvahmulah. The initiative trained youth in water safety and rescue skills to enhance maritime security. AMFA plans to expand the program across the Maldives by 2027 through partnerships with local councils.

Project to build international bowling arena in Hulhumale'

A private company has been awarded a MVR 20 million project to build the Maldives' first international-standard bowling arena in Hulhumale'. The two-story facility aims to host global competitions, though the direct award process lacks an official statement. This project is part of a broader plan to develop world-class sports infrastructure.

Newsletter

Get the latest news delivered straight to your inbox