India’s Olialia World has entered a partnership with local company SIMDI to enter the Maldives market for billion dollar investments.
A statement released by the two companies stated that under the partnership agreement, Olialia SIMDI will develop a Special Economic Zone titled Olialia New Maldives, luxury four resorts, theme park titled Chariots of the Gods, shipping and container port, an offshore banking and export zone, a nationwide helicopter transport network, develop a golf course and upmarket villas. Additionally, under the partnership, two 300-bed hospitals and monorail services will also be developed under this agreement.
SEZ laws dictate that the minimum investment is at US$ 150 million.
In addition to developing an SEZ, SIMDI will sell the fast moving consumer goods of Olialia in the Maldives. Olialia and SIMDI will also collaborate on developing a mariculture and poultry farm in an island owned by SIMDI. Furthermore, some of the resorts under SIMDI operation will be rebranded as Olialia Island Resorts, while IMDC Hospital will be rebranded as Olialia IMDC Hospital.
A date is yet to be announced for these projects but once started this will be the most expensive project run by a private party.