Minister of Economic Development and Trade Mohamed Saeed announced plans for a monorail linking Malé to the proposed Special Economic and Financial Services Zone on Funadhoo Island, under an agreement signed with Dubai-based IFZA. He said the STO fuel farm relocation would take 18 months and that Funadhoo would become a financial hub within five years.
One outlet so far Only Maldives Republic has reported this among the sources we monitor. A gap in what we monitor, not proof that others did not report it.
Minister Saeed revealed to the press on Saturday that the agreement, signed between the Maldives’ government and the Dubai-based International Free Zone Authority (IFZA), includes the establishment of a monorail network between Malé and Funadhoo.
Word for word from the report in Maldives Republic. Open the report
Funadhoo will be linked to Malé and Hulhulé through a single-track monorail. We have secured a partnership to finance this project, which will be executed by IFZA.
The relocation process is expected to be completed within 18 months, coinciding with the finalisation of detailed project drawings for Funadhoo’s financial hub.
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“The relocation process is expected to be completed within 18 months, coinciding with the finalisation of detailed project drawings for Funadhoo’s financial hub,” said Saeed.
Word for word from the report in Maldives Republic. Open the report
the agreement, signed between the Maldives’ government and the Dubai-based International Free Zone Authority (IFZA), includes the establishment of a monorail network between Malé and Funadhoo.
Word for word from the report in Maldives Republic. Open the report