Mohan Mutha Commits $30M to Maldives Wellness Resort

The parent company of India's renowned MM Exports, based in Chennai and known for its involvement in major construction projects and the sale of construction equipment in the Maldives, has announced plans to launch a significant investment of USD 30 million (equivalent to MVR 462 million) in the creation of a high-end resort there.

In a recent statement, the conglomerate's executive director, Suresh Mutha, said that the group is currently working to obtain the necessary permits to build a top "wellness" resort in the Maldives. Although further details have not been made public, Mutha also said that the financial backing for this project has been successfully secured through a loan arrangement with a well-known Maldivian financial institution.

Suresh elaborated on the resort's distinctive features by saying that it will be solely committed to serving vegan and vegetarian cuisine experiences and forgoing the provision of alcoholic beverages.

The Maldives' Vaadhoo region has been chosen as the location for this development, according to the business, although more particular atoll information is still pending.

In addition to its primary activities in shipping, logistics, and trading, the company has a significant position in the real estate market.

MM Exports, a division of the Mohan Mutha Group, has become a key player in the Maldivian construction industry over the years after leaving a notable mark on the country. The result of this has been the deployment of a fleet of 15 tugs and barges, allowing for easy travel between India and the Maldives.

It is noteworthy that the company's nautical vessels have been subject to severe fines, sometimes amounting to MVR 100 million, after unintentionally running aground on Maldivian reefs. The resolution of these sanctions is still pending, though, as of right now.