Renaatus Projects Private Limited, a construction and construction material manufacturing company with a strong foothold in the Maldives and Mauritius as well as a growing presence in India, 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 an air traffic control tower and a fire station, as well as upgrading and renewing the current terminal, parking lots, roads, duty-free shops, and restaurants. The project is expected to begin this month and be completed by 2025.
Selvasundaram Poosappan, Chairman, said, “We have been in the industry for over two decades and have meticulously developed the capability to provide end-to-end solutions for all construction needs. As a value-driven organisation, we are strong in the use of technology and committed to the concept of ‘integrated project delivery’. We have a strong foothold in the Maldives and Mauritius and aspire to emerge as a key player in the construction industry in India as well. With our pan-India expansion plans and infrastructure and housing projects in the country and abroad, our group is poised to achieve a turnover of Rs. 3,500 crores by 2030. Being in a labour-intensive industry, we hope to create employment opportunities for 30,000-40,000 people by that time.”
Manoj Poosappan, Managing Director, said, “Winning this prestigious contract from the Government of Maldives stands as a testament to the trust we have built in the markets we operate in with an untiring resolve to build an enviable track record when it comes to sustainability, cost-effectiveness, and stakeholder value. 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.”
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