HDC and TUMAS Enter Agreement on Hulhumale Phase II
- Business & Finance
Housing Development Corporation of Maldives and TÜMAŞ, Turkish Engineering Consulting & Contracting Co, have entered into an agreement for the design and construction of bridges, channels, harbors and shore protection works for the Hulhumalé Phase II.
The agreement was signed today in a ceremony held at HDC head office by the company’s Managing Director, Mohamed Saiman, and Chairman of TÜMAŞ, Fehmi Zafer Heperler.
This mega project that includes construction of bridges, channels, harbors and shore protection works under the Hulhumalé Phase II is divided in to several stages in which the design stage is the first, HDC reported today.
Under the agreement, TÜMAŞ will undertake the first stage: designing and project management of the components, which include channels and bridges between Phase I and II, harbor, sheet piling and beach formation.
The project will be funded under the Saudi Fund for Development (SFD) loan.