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MALDIVES. The Maldives government is preparing to issue a Request for Proposals for a controlling stake in Maldives Airport Company Limited (MACL), which manages Malé International Airport.
In October the government launched the process to sell a majority stake in the airport company, to fund the expansion and development of Malé International. MACL will also be restructured so that the privatised company is not responsible for air traffic and security services, as it is currently.
The government has employed the services of the International Finance Corporation, which advises on infrastructure projects, to help it find an investor.
To date the government has progressed through Expressions of Interest and Request for Qualifications stages, with the formal RFP to shortlisted companies to follow.
Turkey’s leading airports group TAV Airports Holding has said it will take part in the RFP, having been among those pre-qualified by the government.
In announcing the project the government said: “The Maldives economy is highly tourism dependent; the industry accounts for 28% of GDP and 60% of foreign exchange earnings. Furthermore, over 90% of government tax revenues are derived from import duties and tourism-related taxes. In this context a fully functioning, world-class international airport gains greater salience as the first access point for tourism.”
We’ll bring you further news on the shortlisted companies and the RFP as it becomes available.
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