Government has invited interested parties to submit Expressions of Interest (EOI) for financing the Development of Kinbidhoo - Veymandoo Link with Development Elaa, Thaa Atoll as an Integrated Tourism Island Project.
This project, approved under Presidential Decree on 1 April, is a key national initiative aimed for Development of Thaa Atoll Kinbidhoo - Veymandoo Link with development of Elaa as an Integrated tourism island.
The Ministry of Construction, Housing and Infrastructure said the project will be implemented under a cross-subsidisation model, where the selected investor may propose commercially viable components to offset the capital and operational costs of the facility, Contractor Financing, PPP Model or Loan Financing.
The Ministry has invited qualified and interested parties, local and foreign with demonstrated financial and technical capability to submit their EOIs through email before 30 June at 1:00 pm.
Veymandoo and Kinbidhoo are located on the southern rim of Thaa Atoll, with Elaa situated between these islands. Geographic dispersion of the islands, coupled with smaller communities result in unequitable quality of essential services offered in islands.
Given that Th. Veymandoo is the administrative capital of the atoll and has a bigger population, Veymandoo has better facilities and services compared to Kinbidhoo and the rest of the islands in the Atoll. With Elaa designated as an island for resort development, there is unrealised socioeconomic potential to benefit the communities of Veymandoo and Kinbidhoo, and communities of other inhabited islands in Thaa Atoll.
According to the government, establishing a link between these islands will have several benefits including improved transportation and connection, boosting economic growth of both islands through increased trade opportunities and increased social benefits such as accessibility to better healthcare, education and other essential services and increasing community ties between the islands.