The Ministry of Finance has formalised the transfer of Magoodhoo Airport to the Regional Airports Company Limited (RACL) via an agreement granting the state-owned enterprise (SOE) full operational control over the airport, RACL has announced.

The MVR 230 million airport project at Magoodhoo in Faafu Atoll, originally planned with a 1,200-meter runway, will have its runway extended to 1,800 meters, as mandated by President Ibrahim Mohamed Solih, once ongoing work is complete, the company said in a press release.

The Magoodhoo Airport development project was awarded to the Maldives Transport and Contracting Company (MTCC) in October 2022.

The construction of the airport’s passenger terminal structure and the fire building has been completed, and finishing works are currently ongoing, according to RACL. Concurrently, work on parking facilities for private jets and a fuel farm is underway and is targeted for completion by the first quarter (Q1) of 2024. An airport hotel, designed to accommodate flight crews, will also be part of the development, the company said, and with all the developments combined, Magoodhoo Airport is set to become one of the best airports in the country.

If the ongoing work continues as scheduled, the airport in Magoodhoo will be operational by January 2024, RACL said, adding that the airport in Muli of Meemu Atoll will also be complete within the same period.

Regional Airports Company Limited (RACL) was established on 30 September 2020 by President Ibrahim Mohamed Solih, under the Presidential decree empowered by the Company’s Act (Act No. 10/96). The company was incorporated and registered on 11 January 2021 as a fully state-owned enterprise and is led by Managing Director Mohamed Rizvi.