Crystal Holdings Private Limited has been granted permission to implement a large-scale township project in Noonu Atoll under the Special Economic Zone (SEZ) Act.
The project, called "Project Aila," is scheduled to be implemented in Noonu Dhigufaru Falhu, Dhekenanfaru and Kuramaadhoo.
The Economic Ministry said in a statement Wednesday that the project was approved after a thorough review of the documents submitted by the company.
The Economic Ministry said high-end housing and international health services will be established under the project. A special solar power system will be installed to provide 60 percent of the energy of the buildings in the area covered under the project.
In addition, the project will develop agricultural facilities and aqua-culture activities. The project will also provide housing for the employees and their families.
The Economic Ministry has said that once the project is approved, Crystal Holdings Pvt Ltd is required to prepare all assessments and submit them to the Economic Ministry within 180 days. This includes feasibility assessment, infrastructure master plan and engineering and environmental studies.
The first major project in the Maldives under the SEZ Act is the installation of floating solar panels by Canada's Abraxas Power Corporation. The Economic Ministry approved the project in February.
