Efforts Underway to Reclaim Ihavandhippolhu Area for Harbour and Fuel Storage Development, Says Economic Minister
Photo: The President’s Office
Economic Minister Mohamed Saeed has revealed that efforts are underway to reclaim the Ihavandhippolhu area, which has been designated for bunkering as part of the harbour development, including the establishment of a fuel storage facility.
The bunkering service in Ihavandhippolhu, launched on 19th September 2024, is being provided by the State Trading Organization (STO) in collaboration with Netherlands-based Vitol, using two vessels.
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Minister Saeed addressed questions about the bunkering service during a press conference held by the Economic Ministry on Tuesday. He highlighted that significant work has been undertaken in connection with the bunkering service and noted that preparations are underway to begin physical works on the Maldives Economic Gateway, which is being developed in the Ihavandhippolhu area.
The Minister explained that an off-port will be developed in the region for cargo storage, citing the example of neighbouring Sri Lanka, which has a large commercial harbour with ample land resources. He said, “While nations close to us have these resources, we do not have these resources yet. We are working on developing these resources, which include land reclamation and establishing arrangements for fuel storage, alongside the construction of the harbour.”
According to Minister Saeed, these developments will provide significant advantages compared to offshore vessel refuelling.
Although five months have passed since the bunkering service began, Minister Saeed mentioned that two shipments had been completed, and work is ongoing for a third shipment. However, when asked about the revenue generated from these shipments, he was unable to provide specific details and recommended that further inquiries be directed to STO.
In a previous statement made during the ‘Haftha 52’ programme in November 2024, Minister Saeed had mentioned that the bunkering service had generated USD 1.5 million in revenue, marking one year in office for the current administration.
