Belgian group “conditionally awarded” Hulhumale’ second phase reclamation contract
31 Jul 2013, 7:44 PM
Neil Merrett
The Housing Development Corporation (HDC) said it has “conditionally awarded” a contract to Belgium-based company Dredging International to undertake the second phase of reclamation work on the island of Hulhumale’.
HDC Deputy Managing Director Mohamed Shahid today told Minivan News that financing on the contract was still in the process of being finalised at present on the project, with the bid price “more or less” anticipated to be about US$59 million.
Shahid added that a total cost of the project could not be given until certain technical requirements related to the expansion project were finalised.
Local media has previously reported that the HDC project to reclaim 230 hectares of land on Hulhumale’ suitable for residential use would cost an estimated US$60 million, with six foreign parties reportedly expressing interest earlier this year. The development is anticipated to be the largest project of its kind in the Maldives.
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