Ekulhivaru
Ekulhivaru
MTDC plans to develop the island under a Joint Venture (JV) partnership which incorporates a 20/80 structure.
> 20% of the JV entity will be owned by MTDC and 80% belonging to the JV partner.
>ENA Hotel Holdings Pvt. Ltd. is a Joint Venture Company formed in this manner whereby 20% belongs to MTDC and 80% belongs to Ritz Carlton .
> The Joint Venture Agreement was signed on 31st March 2008
> Sublease Agreement for Ekulhivaru was signed on 1st July 2008.
>The Island is to operate as a 180 bed tourist resort and is expected to start its operations by the end of the second quarter of 2011.
