The government has announced the contract agreement for the development of an international airport in GDh. Thinadhoo will only be finalized after verifying the technical and financial capabilities of the selected company.
On Tuesday, the government signed an MoU with Thailand's Pan Pacific Company for the construction of the airport. Following concerns voiced by the public regarding the company's reliability and capacity, the Housing and Infrastructure Ministry Wednesday released a statement clarifying that the MoU was signed to facilitate pre-contract agreement checks, as approved by the economic council.
Pan Pacific Company has proposed to develop a four-kilometer runway, an international and domestic passenger terminal, and a seaplane terminal, as well as all the facilities of an international airport under the project. Additionally, plans for a luxury resort, yacht marina, and flight school are included in the proposal.
“The contract for the project will be signed after verifying the technical and financial capacity of the proposer and in accordance with the laws and regulations of the country,” the ministry said in the statement.
While an MoU serves as a preliminary agreement outlining proposed terms and understandings, a contract agreement is a legally binding document that establishes specific terms, conditions, and obligations between parties. Once signed, parties are obligated to fulfill the terms outlined in the contract.
