The Indian government has announced that the last date for submission of bids for the development of the Maldives' second overwater bridge will expire on Wednesday.
India has agreed to provide loan assistance of USD 400 million for the bridge project connecting Male', Villimale’, Thilafushi and Gulhifalhu. While the loan agreement has been signed, USD 100 million has been given as a grant assistance by India and will be utilized for the project. The project will reach completion within two years, India has said.
India's EXIM bank has pre-qualified four Indian companies for the tender announced by the Maldives' Finance Ministry. According to the Indian government, all four companies are experienced business which has technical expertise required for the project, as well as the financial capacity to undertake such a project. While the last date to submit bids is this Wednesday, the project will be handed over to the winner within the next three weeks, the Maldives government has said.
The Indian government has described the development of a 6,695 km bridges and causeways between Male’, Villimale’, Thilafushi and Gulhifalhu as an engine that would put the Maldives' economy in high gear. The bridge is of utmost importance to make the best use of the Gulhifalhu Port being developed under a Line of Credit Facility provided by the EXIM bank. An English and a Hong Kong company are working on the project as consultants.