Three companies submit detailed proposals for Male

Detailed Proposals have been submitted by three companies for the project to construct a bridge between Male’ and Hulhule’.

Speaking at a press conference at President’s Office today, Minister of Economic Development Mohamed Saeed said that 19 companies submitted Expression of Interest for this project earlier, out of which three have now submitted Detailed Proposals.

The three companies are Dongfang Electric International Corporation, China Machinery and Engineering Corporation, and Beijing Urban Construction.

Saeed said that ‘finance guarantee’ was included in the proposal submitted by Beijing Urban Construction.

When asked why proposals were received from only three out of 19 companies, Saeed said that it was possible that some companies that submitted Expression of Interest collaborated in submitting Detailed Proposals.

He noted that the companies that submitted Detailed Proposals are large players in the construction sector, and assured that investors have confidence in the Maldivian market.

Saeed announced that the government aims to complete evaluation of proposals in July, and commence the construction of the bridge before the end of the year.