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MVR 8 bn budgeted for PSIP – 4 airports, 20 land reclamation projects

Government has submitted an MVR 8 billion projected budget for 704 projects as part of Public Sector Investment Programs (PSIP) for the year 2017; including building airports in four islands, and 20 land reclamation projects.

The PSIP sub-budget makes for 29.8 percent of the MVR 26 billion projected State budget for 2017, which was submitted to People’s Majlis during this Tuesday’s sitting.

The MVR 8 billion includes MVR 2.8 billion in loans, MVR 793.1 million expected in non-reimbursable financial aid, and MVR 4.3 billion from the general government budget.

Major 16 PSIP projects:

1. Hulhumale’ development – MVR 121 million

2. H. Dh. Kulhudhuffushi airport (with land reclamation) – MVR 157 million

3. Sh. Funadhoo airport (with land reclamation) – MVR 150 million

4. G. Dh. Faresmaathodaa airport (with land reclamation) – MVR 147 million

5. F. NIlandhoo Airport (with land reclamation) – MVR 171 million

6. IGMH new building – MVR 1.3 billion

7. 600 housing units after land reclamation – MVR 90 million

8. Saudi King’s mosque – MVR 230 million

9. Male’-Hulhule’ bridge – MVR 287 million

10. Ibrahim Nasir International Airport (INIA) development – MVR 864 million

11. Projects linked to Male’-Hulhule’ bridge – MVR 34 million

12. Land reclamation of 20 lagoons larger than 10 hectors for trade – MVR 107 million

13. Thilafushi incinerator – MVR 100 million

14. New finance building – MVR 132 million

15. Water and sewerage – MVR 101 million

16. Other projects – MVR 4 billion

MVR 2.9 billion has been budgeted for 293 new PSIP projects, but the larger part of the expenditure – MVR 5.1 billion – will be for 411 existent projects.

It makes for 63.6 percent of the PSIP budget.

MVR 2.3 billion from the PSIP budget will go to infrastructure development projects to solve transportation in and out of islands, MVR 1.8 billion will go to development of health and social service centers, MVR 796.9 million will go to establishing water and sewerage services,

MVR 603.2 million will go to land reclamation and road development, MVR 585 million will go to environmental protection programs, and MVR 494.9 million will go to housing.

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