Maldives: Hulhumalé Land Reclamation Contract Awarded
- Business & Finance
A US$50 million contract for dredging and reclamation work in Hulhumalé has been awarded to Belgian company Dredging International NV, according to the Housing Development Corporation (HDC).
The Letter of Award to carry out this development project was issued to Dredging International NV on June 18, 2014.
The project will commence within a period of 2 months and the reclamation work is estimated to be completed within a period of 7 months. The Hulhumalé Phase II reclamation and coastal protection works will be wrapped up by the end of December 2015.
This phase involves reclamation of 240 hectares of land “with a target population of 100,000 people,” HDC explained.
Press Release, June 20, 2014