Ihavandhippolhu - RajjeViyu

Maldives Republic | 1 year, 10 months ago | positive

Pilot Boat and Tugboat for Ihavandhippolhu Bunkering Project Dock at Kulhudhuffushi Port; Additional Work Underway: MPL

Maldives Ports Limited (MPL) confirmed that a pilot boat and tugboat for the Ihavandhippolhu bunkering project docked at Kulhudhuffushi Port. CEO Mohamed Wajeeh Ibrahim welcomed the crew. MPL is operationalised for bunkering services, with administrative spaces under construction to be completed by 15 August. Vitol will provide bunkering services, and STO will supply fuel. The project is expected to generate US$400 million annually starting July next year. MPL also signed an MOU with Uligan Council for a yacht marina at Uligan Island in Haa Alifu Atoll.

Maldives Republic | 1 year, 11 months ago | positive

Bunkering Services at Ihavandhippolhu to Launch in August

Bunkering services at Ihavandhippolhu in Haa Alifu Atoll will launch within a month, confirmed Minister of Economic Development and Trade Mohamed Saeed. The State Trading Organization (STO) signed an agreement with Vitol Group on March 13 to establish an international bunkering facility. STO has purchased two tankers and is working with MNDF, Immigration, and Customs. Environmental surveys and equipment assessments done. 40 jobs announced. Saeed said the project will add US$400 million (MVR 6 billion) to GDP by end of July next year, revive small businesses, and create many jobs. President also announced a permanent international fuel storage terminal within the Maldives Economic Gateway.

Maldives Republic | 2 years, 3 months ago | optimistic

Maldives to Launch Bunkering Services in Ihavandhippolhu by End of July

The Maldivian government announced the launch of bunkering services in Ihavandhippolhu, Haa Alifu Atoll, by the end of July. This is part of the Maldives Economic Gateway project. Economic Development Minister Mohamed Saeed stated that negotiations are underway with a top global company to operate the facility. The project was initiated by the previous government in August 2023 when the State Trading Organization (STO) signed an agreement with Qatar's Urbacon Trading and Contracting (UTC) for fuel storage and bunkering, and for a national strategic oil reserve. Additionally, Hoarafushi and Ihavandhippolhu are part of the newly established Maldives Industrial Development Freezone Company. Land reclamation in Hoarafushi lagoon is planned with funding from a European bank. A development bank is expected to be established by year-end.

Maldives Republic | 2 years, 3 months ago | optimistic

Ihavandhippolhu Bunkering Project Primed to Begin in Three Weeks: Economic Minister

The Ihavandhippolhu bunkering project in Haa Alifu Atoll will start within two to three weeks, before end of July, as per Economic Minister Mohamed Saeed. Qatar's UrbaCon Trading and Contracting has been awarded the contract. The project aims to provide revenue from servicing foreign vessels. Dredging for the Maldives Economic Gateway project will also start this year.

Maldives Republic | 2 years, 4 months ago | optimistic

Development Rights at Maldives Economic Gateway Awarded to New Re-Export SOE

The cabinet granted development rights at Ihavandhippolhu, under the name Maldives Economic Gateway, to the newly formed Maldives Industrial Development Free Zone, Minister Mohamed Saeed confirmed. The free zone company will develop a port, storage facilities, and re-export zone. The administration aims to establish a transshipment port, with a pledge for Gaadhoo Island. The new cargo terminal at Velana International Airport has an annual capacity of 120,000 metric tonnes, superseding the old 50,000-tonne terminal. Five state-owned enterprises (STO, HDC, MPL, MTCC, MACL) are stakeholders. The administration's goal is to double GDP from MVR 6 billion to MVR 12 billion.

Maldives Republic | 2 years, 6 months ago | optimistic

Government Announces Plans to Revive International Port Projects

Economic Development Minister Mohamed Saeed announced the resumption and launch of major international port projects in Ihavandhippolhu (Haa Alifu Atoll) and Gaadhoo (Laamu Atoll). The Ihavandhippolhu project, previously known as 'iHavan,' aims to become a trading hub along the main shipping lane. It was initiated under former President Abdulla Yameen and continued under President Ibrahim Mohamed Solih. Recent efforts involve a bunkering project by STO and Qatar's UrbaCon. The Gaadhoo project includes a commercial port, refuelling services, and a resort on an island whose inhabitants were relocated in 2016. Both projects align with President Muizzu's pledge to leverage strategic locations for economic growth.