The Minister of Economic Development, Fayyaz Ismail, has announced that the Maldives will build its first port city in the northernmost region, according to a letter sent to the Parliament of the Maldives. The government is currently focused on developing the port city and has begun preparations to reclaim land for the project.
The services provided by the port city will include crew changing, bunkering, and supplying. The project aims to introduce services for cargo ships travelling in the northernmost region until the transshipment port is developed. In this regard, the relevant policies are being amended to introduce these services, with crew changing and bunkering being the first ones. State Trading Organisation (STO) is seeking investments and signing agreements with oil companies to commence the bunkering service.
The government is seeking public-private partnerships to develop an international transshipment port in Haa Alifu Atoll, which will have a handling capacity of 1.8 million containers per year, requiring an investment of USD 466 million.