The Economic Ministry is seeking interested parties to develop an international container transshipment port in Ihavandhippolhu.
The Ministry opened for opportunities for those who are interested in developing an international container transshipment port in the northernmost atoll of Maldives under a public-private partnership for 30 years. According to the Ministry, the conceptual port master plan has been developed and a detailed feasibility study has also been performed for this project.
The Ministry revealed that this project has been designed to be capable of providing services to the largest cargo ships in the world. The Ministry has planned to build a 900-meter quay under this project, aiming to develop the port which will be able to handle a capacity of 1.8 million TEUs per year in the first phase of the project with its operations to start by 2024.
Economic Ministry forecasted that an investment of USD 466 million will be needed to fully develop the port.
Ihavandhippolhu atoll holds an ideal position along the main East-West shipping routes and is also in close proximity to the Far East and feeder markets in the Middle East and the Indian Sub- Continent, yielding opportunities for relay and inter-lining services.