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Today Date : Friday, July 12, 2024

Renaatus gets US$ 29M contract from Maldives to expand  international airport

Renaatus gets US$ 29M contract from Maldives to expand international airport

The Chennai-based Renaatus Projects Private Limited, a construction and construction material manufacturing company has won a US$29 million contract from the Government of Maldives to expand and upgrade the infrastructure of Gan International Airport, operated by Addu International Airport. 

Funded by Exim Bank of India, the project involves the construction of air traffic control tower, fire station as well as upgrading and renewing the current terminal, parkings, roads, duty-free shops and restaurants.

Intensive industry

 The project is expected to begin this month and will be completed by 2025. Mr. Selvasundaram Poosappan, Chairman, said, “our group is poised to achieve a turnover of Rs. 3,500 crores by 2030. Being in the labour-intensive industry, we hope to create employment opportunities for 30,000-40,000 people by that time.”  

Commenting on the Gan International Airport project, Mr Manoj Poosappan, Managing Director, said, “This project will tremendously boost tourism and thus the economy of the southern region of the Maldives and benefit businesses and residents.  When we win such overseas projects, it also has a positive impact in India from where we source major construction materials from our manufacturing units.”