Maldives sign contract with joint venture of Indian companies for development of Addu
Maldives government signed a contract with a joint venture of Indian companies for preparation of project report and development of Addu, second biggest city in the island nation.
The contract was signed on Thursday by L & T engineering limited and Lea associates south asia for the Addu Road and Reclamation Project. The scope of the project includes land reclamation, construction of roads and storm water drainage system in Addu. This will upgrade existing infrastructure and mitigate the flood situation in Addu.
It will be financed through 800 million US dollars line of credit extended by EXIM bank of India for strengthening of Indo- Maldives development cooperation. It is the second project after water and sanitation project in 34 islands. India and Maldives have seen close cooperation since coming of new government under President Ibrahim Mohamed Solih.
Maldives Foreign Minister Abdulla Shahid is currently in India for the joint commission meeting for further strengthening the bilateral relations between the two countries