VIA Airport Funding was Secured by Incumbent Gov’t, Clarifies Ameer

Finance Minister Ibrahim Ameer addressed the MVR 1.2 billion financial pledge by the United Arab Emirates (UAE) for the Velana International Airport (VIA) development project. 

Ameer affirmed that the financial commitment from the UAE was arranged by the current government, independent of the visit by President-elect Dr. Mohamed Muizzu to the UAE.

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During a press briefing, President-elect Muizzu’s spokesperson, Mohamed Firuzul, stated that the Abu Dhabi Fund for Development (ADFD) assured Muizzu during his unofficial one-day visit to the UAE that necessary funds would be provided to complete the airport project.

Responding to Firuzul’s comments, Ameer clarified that the UAE had indeed assured the government of arranging the necessary funds. He mentioned that multiple financial entities, including the Saudi Fund, Kuwait Fund, Abu Dhabi Development Fund, and the OPEC Fund, are collectively investing in the airport project.

Ameer highlighted that the government had allocated additional funds for the airport project and engaged with the financiers over the past two years.

Addressing reports that the UAE had invited President Ibrahim Mohamed Solih to visit before the presidential election in September, Ameer noted that the president’s commitments prevented him from making the trip.

Firuzul reiterated on Wednesday that the secured funds were aimed at ensuring the completion of the project, anticipating the airport’s opening by the forthcoming tourist peak season next year.

Notably, Firuzul outlined the assurances provided by the UAE to Muizzu, which encompassed budget support and assistance for the government’s planned economic and social projects.

Muizzu had previously expressed confidence in the completion of VIA’s new terminal by September 2024, eight months ahead of the original schedule. The Saudi Bin Laden Group, responsible for building the new terminal, subcontracted the project to the China Harbor Engineering Company (CHEC). 

Additionally, Saudi Arabia decided to extend an extra $100 million loan to finalise the terminal’s construction.

Key points about the airport’s new terminal include:

– Handed over to the Saudi Bin Laden Group in May 2016.

– An estimated investment of USD 350 million (MVR 5.3 billion).

– Designed to accommodate 7.5 million passengers with 40 departure gates and 38 immigration counters.

– Plans for the installation of aero bridges.