President Dr. Mohamed Muizzu revealed a significant change in plans for the Malé Commercial Port. Initially intended for Gulhifalhu in Kaafu atoll, the project will now be shifted to Thilafushi within the same atoll.
During the Velana International Airport development project inauguration ceremony, President Dr. Muizzu explained that the shift was due to the feasibility concerns associated with Gulhifalhu. He expressed the decision to relocate the port to Thilafushi, where an international-class port will be developed.
This decision aligns with the President’s vision of creating ample economic opportunities for the Maldives through the development of the airport and the establishment of the commercial port. Notably, the reclamation of land for the original port at Gulhifalhu is underway, funded by India’s Line of Credit facility, covering 75 per cent of the estimated USD 400 million (MVR 6.1 billion) project cost.
The new Thilafushi port is anticipated to have a substantial capacity of 400,000 20-foot containers and is slated for completion in 2026. India’s Exim Bank has signalled its readiness to initiate a tender for the port’s construction, marking a key milestone in the project’s progression.