WAMCO Invites Proposals for Island Projects to Support Waste Services

The Waste Management Corporation (WAMCO) has announced that it is seeking investors to develop designated island areas under a contractor-financed model to generate funds for waste management in local communities.

According to WAMCO, island councils have provided the company with land in return for its waste management services. These plots and uninhabited islands will be leased to private parties for commercial development, with WAMCO collecting rental income to finance its operations in the islands.

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In its latest announcement, WAMCO has opened bids for two projects: the lagoon area of K. Himmafushi and Lhosfushi, a small island near K. Guraidhoo. Both are being offered for development on a contract financing basis, under which all planning, design, and construction costs will be borne by the selected proponent at no expense to WAMCO.

Bids for the Lhosfushi project must be submitted by 27 August, with the same deadline set for the Himmafushi lagoon development.

WAMCO has clarified that while it is not directly investing in local tourism ventures, it is utilising land acquired through agreements with councils as a means of sustaining its waste management services.

While WAMCO has been looking for investors in recent weeks, earlier this month, the Maldives Hajj Corporation, a state owned company, announced plans to establish a tourism venture on K. Maafushi, one of the country’s most popular guesthouse islands. The decision has drawn backlash from members of the public as well as Islamic Minister Dr Mohamed Shaheem Ali Saeed, who raised concerns over the appropriateness of such investments. Despite the criticism, the Hajj Corporation has indicated it will proceed with the project.

Online outlet Adhadhu reported that WAMCO has already signed agreements with several islands and is negotiating with others, including K. Thulusdhoo.