Projects worth MVR 2.5 billion to be awarded by third quarter

Public Sector Investment Programmes (PSIP) projects totaling MVR 2.5 billion will be contracted by the end of the third quarter of 2019, according to the Planning and Infrastructure Ministry.

The Ministry's Program and Project Department's deputy Director-General Anwar Ali stated in the "Nuvagadi" program yesterday that projects totaling MVR 1.8 billion has already been assigned to different companies and the total number of projects awarded by the end of the third quarter should be worth more than MVR 2.5 billion.

Anwar also stated that the current statistics showed the speed of development in the country was progressing at a good rate and that next year's budget that is now being formulated will include funding for more projects.

This year's budget included MVR 1.4 billion for PSIP projects, out of which 170 projects are currently underway.