Development of the new passenger terminal at the Velana International Airport will conclude by 2022, says Maldives Airports Company Limited (MACL)'s acting Managing Director Moosa Solih.

Solih stated that the opening of the new terminal has been delayed because the project is being carried out through funding from four different parties.

The project, tasked to Saudi Arabia’s Bin Laden Group and initially began in 2016, was set to conclude in 2019. However, the delay follows a financial hold up which has since been solved and the project is currently proceeding at a swift speed.

The new passenger terminal is part of phase II of the airport development project and is estimated to cost about USD 350 million (MVR 5.3 billion).

A fuel farm, which is also included in the airport development scheme, is set to open by August 2019.

According to MACL, three 15,000 cubic meter tanks will be planted to store fuel. Work to station one of the tanks has already been completed, with the second and third ones coming along.

MACL further said that foundation work to plant two diesel tanks has also been completed.

A new runway, apron, fuel farm and cargo terminal are included under the previous government’s massive airport development project which is to provide services to about seven million citizens within the next 50 years.