Maldives’ First Port City to be Built in Northernmost Region, says Minister of Economic Development

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Minister of Economic Development, Fayyaz Ismail, has announced that the Maldives’ first port city will be constructed in the northernmost region of the country. The announcement was made in response to inquiries on the progress of the transshipment port development project in Haa Alifu Atoll, in a letter addressed to the Maldives Parliament.

According to Minister Fayyaz, the government is currently focusing on the development of the port city and has made preparations for land reclamation. The port city will offer services such as crew changing, bunkering, and supplying, as part of the efforts to introduce services for cargo ships travelling in the northernmost region until the transshipment port is developed.

Minister Fayyaz stated that the relevant policies are being amended to introduce the services, with crew changing and bunkering being the first services to be launched. The State Trading Organisation (STO) is obtaining investments and signing agreements with oil companies to commence the bunkering service.

The government is looking for partners to develop an international transshipment port in Haa Alifu Atoll through a public-private partnership. The port will have a handling capacity of 1.8 million containers per year, catering to the world’s largest cargo ships, and an investment of USD466 million will be needed for the project.