MoU for Thilafushi port project with Filipino company expires

A Memorandum of Understanding (MoU) signed with a Philippine company for the relocation and development of the main commercial port to Thilafushi from Male has expired, and negotiations with the company have been suspended.

Maldives Ports Limited (MPL) CEO, Mohamed Waheed, clarified the situation following rumours circulating on social media about the cancellation of the MoU and a potential agreement with a Chinese company.

Waheed confirmed that no agreement has been signed with any company since the expiration of the MoU. He emphasised that MPL is evaluating the best options for the project in collaboration with the government.

"We are now looking at the best options. The port relocation is a must. The government is also looking at the best option," Waheed said.

Indian Prime Minister Narendra Modi recently reiterated India’s willingness to assist in the construction of an international trade port in Thilafushi. His comments were made during a joint statement with President Mohamed Muizzu during the president’s visit to India earlier this month.

The project was initially planned to be carried out in Gulhifalhu under the government of former President Ibrahim Mohammed Solih and was to be financed through an Indian credit line. However, the current administration has opted to relocate the project to Thilafushi.

India has indicated its readiness to continue supporting the development of the port at Thilafushi.