Seenu Global to Develop Boatyard in Feevaku

Seenu Global has successfully won the bid opened by the island council to find a party to develop a boatyard on the northwest side of the Sh. Feevaku harbor.

Seenu Global won the bid by competing against two other companies. According to the bid evaluation information published by the Feevaku Council, Seenu Global won the bid by securing the highest marks. That is 85 marks. Seenu Logistics, which competed most closely with Seenu Global, received 69.18 marks.

To develop the boatyard, the Feevaku Council is leasing a 90,212 square foot plot of land from the northwest side of the island's harbor to Seenu Global. This land is being leased to Seenu Global for a period of 40 years to develop a boatyard for building and repairing vessels, and conducting related businesses. Seenu Global is scheduled to pay 173,737.00 MVR per year to the council as rent.

Seenu Global will spend 37.5 million MVR to develop the boatyard. Additionally, Seenu Global will spend 69,386.00 MVR annually on social initiatives in Feevaku.

The Feevaku Council and Seenu Global have not yet disclosed information on the handover of the land and how the boatyard works are planned to proceed.