The Government of Maldives Monday signed an Engineering Procurement and Construction (EPC) agreement with India’s JMC Projects Limited for the construction of 2,000 housing units in Hulhumale’.
The corporation established by the government to carry out housing projects, Fahu Dhiriulhun Corporation signed the agreement on behalf of the Maldives government. The agreement was signed by the corporation’s Managing Director, Salfiyya Anwar, while the Assistance Vice President of JMC Projects, Karri Sudakar Redy signed the document on behalf of the contractor.
600 two bedroom apartment units of 650 square feet and 1400 three bedroom apartment units of 900 square feet will be built under the project. The project, worth USD 137 million, is being carried out under a loan assistance granted by India’s EXIM Bank. The project is to be completed within three years and one month, said Fahi Dhiriulhun Corporation.
A similar agreement was signed with India’s NBCC Limited earlier this year to build 2,000 housing units in Hulhumale’.
