Addu International Airport Private Limited (AIA) has contracted Renaatus Projects Private Limited, an India-based company, to develop Gan International Airport.
The agreement was officially signed by Gais Naseer, the Managing Director of AIA and Selvasundaram Poosapan, the Chairman and Managing Director of Renaatus Projects.
At the signing ceremony, Naseer pressed on the importance of the interdependence of the development of Addu City and the airport. He also said that AIA is planning to construct two city hotels in Gan, and projected that the successful completion of the initiatives will stimulate the economy in the southern region.
Meanwhile, the High Commissioner of India to the Maldives Munu Mahawar, who attended the signing ceremony, affirmed that the development of the airport will be expeditious and effective. Mahawar also said that the projects that India assisted have contributed to the growth of Addu City.
The project to develop Gan International Airport is financed by the EXIM Bank of India’s line of credit with a USD 29 million budget. The project involves upgrading the airport to accommodate 1.5 million passengers annually, as well as the creation of a new domestic terminal, control tower, fire station, and renovation of the current terminal, duty-free shops, and restaurants.