India-based Renaatus Projects Private Limited is preparing to begin the development of Gan International Airport (GIA) in June.
Renaatus signed the agreement with Addu International Airport Private Limited (AIA) to develop GIA in March and is currently mobilising the project site. Ministry of Economic Development stated that President Ibrahim Mohamed Solih will inaugurate the fieldwork at a ceremony. The project aims to establish the facilities needed for an international airport and is scheduled to be completed within two years.
The development of GIA will be carried out under the line of credit of the Exim Bank of India. The project aims to develop GIA to serve 1.5 million passengers per year and includes the construction of a new domestic terminal, control tower, and fire station, as well as upgrading and renewing the current terminal, duty-free shops, and restaurants. A new control tower, fire station, cargo facilities, roads, and parking areas will be developed under the project. It also includes paving a new path that leads to the airport, as well as installing solar panels. The estimated cost of the project is USD29 million.
The development of GIA is expected to assist in the development of Addu City. In addition, AIA is preparing to develop two city hotels in Gan, which will boost the economy of the southern region of the Maldives and benefit businesses and residents.