Adhadhu understands that the total value of more than 200 projects to be awarded to 53 companies today amounts to MVR 2.7 billion.
This is an attempt by the government to set a national record by awarding most projects in a single day.
Speaking in Addu city Hithadhoo last night, President Mohamed Muizzu said 205 projects will be handed over to private companies today.
He also said eight projects had been awarded to private companies during his visit to Addu and Fuvahmulah to campaign for the local council election.
Reliable sources told Adhadhu that 206 projects approved by the Economic Council will be signed this morning during an event at Barcelo Nasandura.
Muizzu and government officials will attend the event.
The projects to be distributed without competitive bidding include housing, health, education, waste management and sports development projects.
It includes 13 housing and harbour development projects worth MVR 997 million, 26 education sector projects worth MVR 397 million and 30 health projects worth MVR 312 million.
About 52 projects worth MVR 197 million will be handed over in the sports and fitness category.
A total of 39 projects, including establishing police posts and centres, will be awarded to private companies at a total cost of MVR 114.9 million, while 24 waste management projects worth MVR 204 million will also be awarded.
The agreements are scheduled to be signed with 53 companies today. Altec Maldives Pvt Ltd is the largest recipient of the project funds. The company will be awarded projects worth MVR 285.7 million, followed by Flexink Pvt Ltd at MVR 171.3 million, Alaf Pvt Ltd at MVR 159.6 million and Swift Engineering Pvt Ltd at MVR 157.3 million.
Number of projects and value
- 13 projects of Infrastructure Ministry - MVR 997.3 million
- 26 projects of the Ministry of Education - MVR 397.2 million
- 24 projects of the Ministry of Tourism/Environment - MVR 204.2 million
- 39 projects of the Ministry of Homeland Security - MVR 114.9 million
- 30 projects of the Ministry of Health - MVR 312.2 million
- Two projects of the Fisheries Ministry - MVR 131.8 million
- 14 projects of the Ministry of Islamic Affairs - MVR 196.4 million
- 52 projects of the Ministry of Sports - MVR 197.2 million
- Five projects of the Ministry of Higher Education - MVR 114.5 million
- One project of Youth Ministry - MVR 40 million
The decision to allocate projects without opening for competitive bidding came after the Public Finance Rules were amended on October 12 to allow the cabinet to award projects without bidding.
Ten companies with the biggest projects
- Altec Maldives Pvt Ltd - MVR 285.7 million (four projects)
- Flexink Pvt Ltd - MVR 171.30 million (six projects)
- Alaf Pvt Ltd - MVR 159.62 million (seven projects)
- Swift Engineering Pvt Ltd - MVR 157.31 million (five projects)
- Investments Pvt Ltd - MVR 129.05 million (six projects)
- White Links Pvt Ltd - MVR 139.29 million (one project)
- Wave Lengths Pvt Ltd - MVR 122.50 million (4 projects)
- Heavy Force Pvt Ltd - MVR 109.12 million (four projects)
- Fedo Pvt Ltd - MVR 116.90 million (two projects)
- Trusteng Maldives Pvt Ltd - MVR 57.86 million (five projects)
The government's financial situation is worsening while debt continues to increase. However, with the local council elections on the horizon, these projects are being handed over to private companies with loans from Bank of Maldives (BML) under government guarantee.
