Maldives Airports Company Limited (MACL) has signed a memorandum of understanding (MoU) with China’s Beijing Urban Construction Group (BUCG) to connect Funadhoo Island, Velana International Airport (VIA) and Malé by monorail. Funadhoo, mere minutes away from both the capital and VIA, will be developed as a Special Economic Zone (SEZ) and Financial Services Zone, the Mohamed Muizzu administration had confirmed earlier this year.
MACL’s Managing Director Ibrahim Shareef and BUCG General Manager Luo Wei signed the “West Side Commercial Hub and Rail Transport Development” MoU on behalf of their respective companies.
According to MACL, the development is part of the expansion of VIA and the SEZ project in Funadhoo.
Funding for the project was secured via Dubai’s International Free Zone Authority (IFZA), which has already been tasked with developing and operating areas designated as special economic zones (SEZs) in the Maldives.
In addition to Malé, Funadhoo and VIA, the monorail network will also connect to Furanafushi—the location for the new seaplane terminal—the Muizzu administration confirmed.
However, no practical work has begun on the relocation of the fuel farm at Funadhoo nor the Sheraton Resort operations at Furanafushi.
