- Project cost US$300 mln
- New terminal completed by 2018
- Twenty year period to pay off loan
Kuwait Fund for Arab Economic Development has granted a US$ 50 million loan for the development of the new passenger terminal at Ibrahim Nasir International Airport (INIA). This is the first loan agreement signed for the new terminal.
Finance Minister Ahmed Munawwar signed the agreement on behalf of the Government. Hisham Al-Ahyan signed on behalf of Kuwait Fund for Arab Economic Development.
The new passenger terminal is developed by Saudi bin Laden Group at a cost of US$ 300 million and to be completed by 2018.
Speaking in the ceremony, Minister Munawwar said that a period of 20 years will be granted to pay back the loan.
"This is the first loan of its nature. Airport development project is a major project worth over US$ 800 million. Ibrahim Nasir International Airport is the biggest project in the country. Its vital as almost all economic endeavors are linked to the airport," he said.
Minister Munawwar noted that Kuwait Fund provided financial assistance to many development projects to the Maldives. He thanked the Fund for their continued assistance to the Maldives over the past 40 years.
New International Terminal
- 78,000 square meters
- 40 departure terminals
- 38 immigration counters
- 12 state of the art jetties
- six aerobridges, can expand to four bridges
- state of the art baggage screening, baggage services
- fuel hydrant systems
Speaking in the ceremony, Economic Minister and Chair of Airport Development Advisory Board Mohamed Saeed said that this will become a sign of economic progress, transforming the business sector to a new level.
After the new terminal is completed, the current terminal will be converted to a domestic one.
