You are here: Home » Current Affairs » News » National
Business Standard

India to build 100-bedded hospital, 22,000-seater stadium in Maldives

India will build a 100-bedded cancer hospital 22,000-seater cricket stadium in Hulhumale here, under the USD 800 million Line of Credit (LoC) that was extended to the country last year

Topics
India Maldives ties | Maldives

ANI  |  Asia 

Photo: Wikipedia
Photo: Wikipedia

India will build a 100-bedded cancer hospital 22,000-seater cricket stadium in Hulhumale here, under the USD 800 million Line of Credit (LoC) that was extended to the country last year, according to the Indian Embassy in on Wednesday.

"A 100-bed state-of-the-art Cancer Hospital will be set up in Hulhumale under the USD 800 million Line of Credit extended to the This project will build on the already close bilateral cooperation in the health sector and include a robust component of human resource dvpt," Indian Embassy here tweeted.

"A modern cricket stadium using the latest technology and a capacity to seat 22,000 spectators will also come up in Hulhumale under the USD 800 million LoC," it said in another tweet.

Indian embassy also said that the development projects in the Hulhumale will benefit both the visitors and residents.

"Honoured to partner with Housing Development Corporation Ltd. Dvpt. of Central Park and renovation of the Arrival Jetty in Hulhumale are grant projects close to our heart. While the Park is the perfect place for leisure and fitness activities, the Jetty will benefit visitors and residents alike," it wrote on Twitter.

On Tuesday, Maldives' Housing Development Corporation Ltd chairman, Mohamed Jaish Ibrahim, met with High Commissioner of India to the Maldives, Sunjay Sudhir, to discuss prospective opportunities of developments in Hulhumale.

In March 2019, the Exim Bank had extended a USD 800 million LoC to the for developmental projects in the island nation.

Projects covered under the LoC include several infrastructure development projects.

Last month, India had extended a USD 250 million loan to the Maldives government to mitigate the impact of the COVID-19, in which the State Bank of India will subscribe to a Treasury Bond issued by the Maldives government with a 10-year tenure.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Thu, October 01 2020. 06:38 IST
RECOMMENDED FOR YOU
.