Company
Capital Marine Engineering and Construction (CMC)
In the news, last 90 days
Infrastructure
Giraavaru Falhu reclamation resumes for a third time
MACL announced that land reclamation at Giraavaru Falhu for Male' housing has resumed after a five-month hiatus, with 115 hectares, or 68.8 percent of the planned 167.15 hectares, completed. The disclosure comes amid revelations of a MVR 650.7 million government loan to MACL to cover reclamation costs, listed in the 2026 budget estimates but not in the original approved budget.
Economy
MVR 650 million loan issued to MACL for Giraavaru lagoon reclamation
A treasury loan of MVR 650.7 million was issued from the state budget this year to the Maldives Airports Company Limited (MACL) to cover reclamation costs of Giraavaru lagoon, where plots are allocated under the Binveriyaa housing scheme. Reclamation of Giraavaru Falhu, resumed by MACL in January, remains incomplete, with satellite imagery showing no work since it stalled in April.
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