Thilamalé bridge reaches 72 per cent completion as first segment nears handover
The largest infrastructure project in the country's history is, at last, visibly closing in on its destination.
The Thilamalé bridge project has reached 72 per cent completion, the Ministry of Construction said on Tuesday, with the Malé–Gulhifalhu segment scheduled for handover by 31 March. The full 6.74 kilometre route — linking Malé to Villingili, Gulhifalhu and Thilafushi — is on track to open by September.
The project is valued at US$500 million and is financed by a US$100 million Indian grant, a US$400 million Indian line of credit, and direct Maldivian contributions.
More from Business
Maldives settles the five-hundred-million Islamic bond
The April maturity is met on time as a fresh sukuk of US$350 million is placed with Gulf and Asian investors.
Maldives to host the 30th Session of the Indian Ocean Tuna Commission
A milestone for a fishing nation that has long wanted the regional treaty body in its own harbour.
India approves thirty-billion-rupee drawdown as Male' settles October 2024 swap
The Reserve Bank of India and the Maldives Monetary Authority move in concert — a drawdown and a settlement on the same day.
Debt servicing is projected to peak at a billion dollars this year, World Bank says
A high-water mark for the balance of payments, arriving at the same moment as tourism revenue softens.