Construction Minister Dr. Abdulla Muthalib has revealed that a staggering MVR 10.7 billion is required for the dredging of Fushidhiggaru Falhu.
At a press conference held Thursday, the minister said the project contractor is expected to invest between USD 500 to 700 million into the project. According to the minister, the high costs are attributed to factors such as the lagoon's depth, the volume of sand needed, and the distance to be covered.
The state is not directly funding the dredging project for Fushidhiggaru Falhu. Instead, the government has come to an agreement with Sri Lanka's Capital Marine and Civil Construction Company (CMCC) for the company to complete the dredging work in exchange for 70 hectares of land granted for an extended period. As part of this agreement, 10 hectares of land have been designated for CMCC from Hulhumale Phase II, while an additional 60 hectares will be allocated from Fushidhiggaru itself.
The dredging of Fushidhiggaru Falhu commenced on December 18 last year. During the project's launch ceremony, President Dr. Mohamed Muizzu announced an ambitious target, stating that 1,150 hectares of land would be dredged from Fushidhiggaru Falhu within eight months from the project's initiation.
