President Mohamed Nasheed today attended the inauguration of Thilafalhu Industrial Zone being developed in Thilafalhu, a lagoon South West of Male’, by Thilafushi Corporation Limited.
At the ceremony held at Thilafushi this afternoon, the President launched Thilafushi dredging and land reclamation project.
Thilafushi Corporation Limited plans to build a port along with a container terminal on 3.8 million square feet of land. In addition, it also plans to sell and lease land for warehousing and storage facilities as well as other industrial establishments.
Speaking at the ceremony, President Nasheed said 13 million square feet of land that would be reclaimed from Thilafalhu would ease the demand for land from Male’ for warehousing and storage, which would ease congestion in the capital.
Without providing land out of Male’ for warehousing and storage, and other industrial facilities, he said, it would not be possible to decongest and improve the quality of life in the most densely populated piece of land in the world.
President said completion of project with reliable transportation to and from Male’, would ease the pressures on Male’ and provide economic benefits to businesses in the form of lower rent and other costs.
Thilafushi Corporation Limited is expected to begin leasing and selling land from Thilafalhu Industrial Zone in 2012.
