The former runway of Velana International Airport (VIA) has been handed over to Beijing Urban Construction Group (BUCG) of China for redevelopment.

The signing ceremony for the contract was held on Tuesday evening.

The agreement was signed by Managing Director Ibrahim Shareef Mohamed on behalf of the Maldives Airports Company Limited (MACL) and General Manager Luo Wei on behalf of BUCG.

MACL has stated that the work on the development project will commence in November 2024.

It is scheduled to be completed within two and a half years.

The project is being carried out to mirror the vision of President Dr. Mohamed Muizzu and the 20-year masterplan for the development of VIA and the Economic Zone.

MACL noted that this is a major step in boosting the efficiency and safety of airport operations.