JMC Projects (India) Ltd (JMC) has signed an agreement with Fahi Dhiriulhun Corporation Ltd (FDC), a state-owned company of the Government of the Republic of the Maldives, for the design, finance and construction of 2,000 social housing units in Hulhumale Island of Maldives. The total value for this project is estimated to be around $ 137 Million (~Rs 1,000 Crores) and is planned to be financed via a loan from multilateral funding agency. The financial closure of the project is expected to conclude soon and construction on the project will commence after the financial closure.
Commenting on the development, S K Tripathi, CEO & Dy. Managing Director, said, “The signing of the agreement with FDC is a landmark event in JMC’s growth journey. The project is a milestone and testament to our ability to deliver major projects to the highest quality and within tight time frames. Our international business has expanded its presence further with this project in Maldives. This will strengthen our international order book and reinforces our thrust to diversify in the international EPC market.”