President Mohamed Muizzu has announced that reclamation in Fushidhiggaru lagoon to build Rasmale' eco city would be completed within the next five months.
He gave a new deadline during the ruling People's National Congress (PNC) rally held in Male' on Friday night.
"I went to see the Rasmale' reclamation site recently. It is progressing at a fast pace. When new dredgers join next month and the speed becomes three fast times faster, the reclamation will be completed in five months," he claimed.
The project was launched on December 18, 2023. Muizzu first said the project will be completed in eight months after reclaiming 1,153 hectares of land. But the vast majority of the past 22 months passed without any work.
But on July 27, 2024, Muizzu said the government needs eight more months to complete reclamation. This deadline was March 27, 2025.
Muizzu announced a third deadline during the presidential address in February 2025. He claimed that reclamation would be completed before the end of 2025.
The latest images from the Sentinel-2 satellite show that about 200 hectares of land have been reclaimed so far. This accounts for just 18 percent of the total land to be reclaimed.
The government initially awarded the project to Capital Marine and Civil Construction (CMCC). But the agreement was later cancelled.
The Housing Development Corporation (HDC) took out a huge loan and has now awarded the project to India's Mohan Mutha Exports (MME) and China's China Railway Construction Corporation (CRCC) and CHEC.
Muizzu first said the government would complete the reclamation without any expenditure from the state budget. But last August, he ordered the advance payment to be made using the state budget.
It has also been revealed that a USD 600 million loan will be taken through three SOEs to finance the project.
The President's Office sent a letter to the Finance Ministry requesting the government to expedite the raising of funds.
Speaking at the Republic Day ceremony on November 11, Muizzu announced that the 15,000 plots of land would be opened from Rasmale' to the people who live in Male'.
