Minister of Housing and Infrastructure Dr. Abdulla Muththalib has said the entire Rasmale reclamation project is now estimated to cost USD 330 million.

Speaking last night at the "Ahaa" forum, held to answer questions from the public, the Minister said that when the Rasmale project began, it was estimated that reclaiming the entire area would cost between USD 500 million and USD 600 million. However, he said the government's efforts have brought costs down, and it is now estimated that the state will spend USD 330 million to reclaim all 1,009 hectares of Rasmale.

The Minister noted that the earlier estimates were calculated based on the costs and market rates of the Gulhifalhu and Giraavaru reclamation projects that were under way at the time. However, he said that because the reclamation is being carried out by chartering a dredger, the work can be completed at a much lower cost compared with the rates of other reclamation projects carried out in the Maldives.

While the target is to complete most of the reclamation by the end of this year, Minister Muththalib also said that claims being made for political purposes that the project will cost USD 600 million or USD 1,000 million are baseless talk aimed at creating fear among the public.