The Maldives government has contracted China’s Dongfang Electric International Corporation (DEIC) on a project of 20-Megawatt power generation and distribution for Addu City.
The signing was held on Wednesday morning at Maagiri Hotel, where the Maldives Minister of Economic Development Fayyaz Ismail, Addu City Mayor Abdulla Sodiq along with several other dignitaries including parliamentarians were present.
The Maldives Ministry of Economic Development confirms the project’s initial phase will commence within the coming month or two. In addition to this, the entire project is expected to conclude in a 15-month period.
The project total costs USD37.5 million as per the ministry.
“This project will be definitive in the success of the overall development of the South [Addu City],” the Ministry had revealed.
The project is funded through a foreign loan aid. As per the Public Finance Act contractors for projects can be assigned without following bid and tender process through cabinet approval following the permission from Maldives President.
The Maldives Ministry of Economic Development confirms the project followed the said prerequisites before it was awarded to the Chinese firm.
The current government aims to transform Addu City into the southern economic hub of Maldives and to see this through the government had proposed a USD414 million worth mega-developmental project in the city.
To seek the necessary funding, the project was proposed at the Maldives Partnership Forum back in July 2019.
Addu City’s mega development falls under the current administration’s pledges in the ‘Blue Economy’ policy.
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