The deadline for bid submission for the Addu Reclamation Project tendered under the Addu Development Project (ADP) roadmap has been set at June 15.

According to a press release issued by the High Commission of India in Maldives (HCI Maldives), the deadline for bid submission is set at June 15. The Ministry of Finance earlier opened the project for tendering.

The project, valued at USD 70 -75 million in final tendered costs, is expected to be wrapped up in two years.

HCI Maldives revealed that four international dredging companies are submitting bids through Indian subsidiaries and the bids will be evaluated both technically and financially before the government of Maldives awards the project. Internationally renowned dredging companies have been permitted to bid for the project.

The commission expects the project to be contracted to a company within four to five weeks after the bid submission deadline.

Following a request made by the government and on account of special requirements for the project, the government of India has agreed to reduce the sourcing of project components by the neighboring country down to 55 percent.

Under the scope of the project, the contracted company will be required to dredge a total of 228 hectares in order to preserve the natural environment of the southernmost city. HCI revealed that the reclamation proposed for residential, commercial and industrial development reclamation is expected in districts spanning Hithadhoo, 38 hectares including two island resorts of five hectares each in Hulhudhoo, Meedhoo and 75 hectares from Maradhoo, Maradhoo Feydhoo.

The project’s zoning plans are expected to facilitate the development of existing harbor front facilities, allocating land for trade and tourism as well as social purposes and residential requirements.

In addition, lagoons are also to be reclaimed to form islands which will be opened for bidding for resort development. As such, 25 hectares of shore protection and land reclamation will draw in potential investors to develop four-star lagoon resorts in the area.

An important pledge of the incumbent administration of President Ibrahim Mohamed Solih, the Addu Development Project aims to boost the country’s economy as well as to attract private investments into the southernmost city through fishing, retail and wholesale trading.

Addu City is deemed to have the potential to become a “modern” economic hub in the south of Maldives.