President Ibrahim Mohamed Solih has stated that the government would finalize a company to which the Thilamale' Bridge project will be awarded to within the next two weeks.
Speaking to reporters at a press conference broadcast live on Tuesday afternoon from the President's Office, President Solih said the tender process has been completed and that the evaluation process is also at a close. The project will be awarded to a company before the end of the month, the president said.
The president said that due to the current lockdown in India's Delhi and Mumbai, there are difficulties in holding meetings with the EXIM Bank of India. India's EXIM bank, which supports the project, has pre-qualified four Indian companies for the tender announced by the Maldives' Finance Ministry. According to the Indian government, all four companies are experienced business which has the technical expertise required for the project, as well as the financial capacity to undertake such a project.
The survey work for the project was done by a Dutch company for US$ 15 million. Netherland's Fugro Company drilled 25 boreholes in the seabed and 25 boreholes on land as part of the survey.
India has agreed to provide loan assistance of US$ 400 million for the bridge project. While the loan agreement has been signed, US$ 100 million has been given as grant assistance by India and will be utilized for the project. The project is expected to reach completion within two years, India has said.