Minister of Construction and Infrastructure Dr. Abdulla Muththalib on Thursday, said the reclamation of K. Fushidhiggaru under the Ras Male’ mega project, cannot be completed within eight months as previously stated by President Dr. Mohamed Muizzu.
Physical works of the biggest housing initiative of this administration, commenced earlier on December 18, 2024. Under the project, a total of 1,153 hectares of land will be reclaimed, which the state aimed to complete within an eight-month window.
During the press conference held on Thursday, the minister confirmed the project will not be completed within earlier projected window. He also said that the government was looking into potential alternatives to expedite the efforts.
Instead of taking the standard full-funding route, government decided to offer long-term lease for a Sri Lankan contractor – which was awarded with the project – Capital Marine Civil Construction Company (CMC).
As per arrangements, CMC will receive 70 hectares of land for long-term lease in exchange for the reclamation project; 10 hectares from Hulhumale’ for 49 years and 60 hectares from Ras Male’ for 50 years – which the minister said was the most beneficial route for the government, as it would not be taking up any additional loans thereby tightening the debt burdens.
Minister highlighted that the project is facing delays due to the obstruction in financing the project as proposed by the contractor. He added the government has begun looking into alternatives that could look to resuscitate the currently stalled works.