The Gan International Airport (GIA) development project has been awarded to India's Renaatus company.
The project agreement was signed at a ceremony held on Monday by GIA's operator, Addu International Airport (AIA)'s Managing Director, Gais Naseer, while Renaatus' Chairman, Selva Sundaram, signed the agreement on behalf of the contractor.
Renaatus, a Chennai-based company established in 1970, has implemented several housing projects in the Maldives and also carried out major renovations of the IGMH in the last government.
GIA will be developed with an $800 million loan from India's Exim Bank. Therefore, the project's contractors were pre-qualified by the Indian government. The GIA development project was awarded to Renaatus out of seven companies that pre-qualified for the project.
The most important aspect of the Gan Airport development project is the construction of a terminal capable of handling 1.5 million passengers annually. When the project is completed, 18 counters will be set up at the airport to serve passengers. The AIA aims to develop the airport to simultaneously accommodate narrow and wide-body and propeller aircraft.
Duty-free shops, restaurants, and lounge facilities, as well as a new control tower and fire station, will also be developed at the GIA under the airport development project. The airport will also have modern cargo facilities with cold storage, roads, and a parking area.
GIA is the main gateway to the south of the Maldives. The government believes that the development of this airport to a modern standard, increasing capacity, and improving the quality of service are crucial for the development of the south. The government is preparing to start the development of GIA this year.
GIA development project will play an important role in the implementation of President Ibrahim Mohamed Solih's policies to develop tourism, fisheries, and other industries in the south and establish an economic hub in the south. The government believes the project will create thousands of jobs directly and indirectly and increase the prosperity of the people of the south.