Gan Airport Company Limited, Maldives Airports Company Limited and State Trading Organisation Plc (STO) have today signed a joint venture agreement to upgrade and operate Gan International Airport in Gan of Addu.
Chairman of Gan Airport Company Limited Mohamed Naseer, Chairman of Maldives Airports Company Limited Ibrahim Saleem and Chairman of STO Farooq Umar signed the agreement on behalf of their respective organisations.
The agreement states that, within two months, three parties will undertake a feasibility study and draw up an investment plan. Within the first two months, three companies will also determine the total financing required to carry out the first phase of the development of Gan Airport.
According the agreement signed this afternoon at the President’s Office, the airport will be developed and operated by a consortium of three companies.
Speaking at the agreement signing ceremony, Minister of Transport and Communication Mohamed Adil Saleem said the upgraded airport will benefit not only Addu, but the whole country.
The development of the Gan Airport will increase the Southern region’s global accessibility and assist in the enhancement of tourism growth in the region.