Contract signed for construction of USD 40 mn National Sports Complex

Government has signed a USD 40 million (MVR 616.8 million) contract with AGT Management Consulting and Construction Services for construction of the National Sports Complex in Hulhumale’.

The contract was signed in a ceremony held this Monday at Hotel Jen by Minister of Youth and Sports – Iruthisham Adam, Minister of Finance and Treasury – Ahmed Munawwar, Managing Director of Housing Development Corporation (HDC) – Mohamed Saiman, and Director of AGT - Ahmet Murat Turkoglu.

After signing the contract, Minister Iruthisham said the National Sports Complex was planned by Economic and Youth Council to be a major project.

She said the government wished to complete the project by 2018.

“This has been discussed within EYC as a mega project. The agreement has been compiled as soon as we received approval with price set at USD 40 million with a fixed interest rate of 4 percent, with an implementation period of 10 years,” said Iruthisham.

She said the Sports Complex would house multi-purpose courts up to international standards, and offices for coaches and senior officials of sports clubs.

Turkoglu said that the company would start construction without delay, and would be using the latest equipment available for the work.