A megaproject to develop the Velana International Airport (VIA) and Economic Zone, has been inaugurated.

President Dr. Mohamed Muizzu launched the megaproject to develop VIA and the Economic Zone, in a bid to cater to 25 million passengers.

The inauguration ceremony was held at Dharubaaruge on Thursday evening.

Taking the podium at the event, President Muizzu noted that the inauguration of the megaproject symbolizes the aspirations of every Maldivian citizen.

Highlighting that the development phase would run simultaneously with the previous one, the president said that once completed, the original capacity objective of seven million will be increased to 25 million passengers.

Further, he announced that the initial phase of the megaproject is set to kick off within 2024.

Most of the work under the project is scheduled to be completed within Muizzu’s five-year presidential term.

The president said that significant developments will be observed within the next 10 years as well.

The initial phase of the project was launched on Thursday, marking the beginning of the relocation work of the seaplane terminal, and initiating the development of the domestic terminal to serve 2,000 passengers per hour which will in turn improve cargo facilities as well as the relocation of the fuel storage facility out of Funadhoo island and repurposing the island to develop as an international financial hub.

In addition to this, President Muizzu shed light on future development prospects of connecting Funadhoo, capital city Malé and Hulhulé via a bridge and Hulhulé and Hulhumalé to the seaplane terminal.

The grand inauguration ceremony was attended by Vice President Hussain Mohamed Latheef, members of the president’s Cabinet of Ministers as well as senior government officials.