JMC Projects bags contract for social housing project in Maldives from FDC

JMC Projects (India) has won a contract for a social housing project in the Maldives from Fahi Dhiriulhun Corporation (FDC), a state-owned company.

Under the contract, the Indian civil engineering company will be responsible for the design, finance, and construction of 2,000 social housing units in Hulhumale Island.

The value of the social housing project is projected to be nearly INR 10 billion ($137 million). It is intended to be financed through a loan from multilateral funding agency, said JMC Projects (India).

The civil engineering company said that the financial closure of the social housing project in Maldives is likely to conclude shortly and construction will begin after achieving it.

S. K. Tripathi – CEO & Dy. Managing Director of JMC Projects (India) 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 r 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.”