The project
BackgroundThe Maldives in in the thrust of rapid social, political and economic transformation since the election of President Nausheed in 2008. In recognition of the developmental challenges of poverty reduction, private sector development and economic restructuring, the Government of Maldives is committed to diversifying its economy and ensuring that the concentration of economic activities around the capital city of Male can be dispersed to the atoll islands. The Maldives economy is highly tourism dependant; the industry accounts for 28% of GDP and 60% of FOREX earnings. Furthermore, over 90% of Government tax revenues are derived from import duties and tourism-related taxes. In this context, a fully functioning, world-class international airport gains greater salience as the first access point for tourism.
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TransactionMalé International Airport is 2.8 km from the capital city of Malé, on the island of Hulhulé, and is located in an approximate geographical center of the country. It is the primary airport of the Maldives and offers a unique inter-modal transport process with interchange between domestic aircrafts, seaplanes and boats, thus maintaining established scheduled services to outlying islands. The Government is looking to reform its national aviation sector and has decided to mobilize private sector participation for the operation, maintenance, expansion, rehabilitation and modernization of the Malé International Airport (MIA) through a transparent competitive bidding process. The project will be implemented through the award and execution of a comprehensive Concession Agreement between the Government of Maldives, in its capacity as a Grantor, and a special purpose company to be formed by the Winning Bidder.
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