Maldives to launch bunkering service in north by July
"We are hopeful that we will be able to launch this service before the end of July."
Summary
"We are hopeful that we will be able to launch this service before the end of July."
Maldives will launch bunkering service in Ihavandhippolhu, the northernmost Atoll in the island nation by the end of July, Economic Minister Mohamed Saeed announced Saturday.
Maldives signed an agreement with Qatar based, Urbacon Trading and Contracting in August last year to develop a bunkering facility, as part of the initiative to establish an international port in HA Atoll Ihavandhippolhu.
"InshaAllah in the coming two to three weeks, Maldives with one of the top ten company's in the world will enter bunkering service," Saeed who is accompanying President Dr. Mohamed Muizzu on his visit to the north Atolls said.
"We are hopeful that we will be able to launch this service before the end of July."
Saeed said the project would open new doors to diversify the economy which includes new jobs, new opportunities for local businesses and boost foreign revenue.
"So the long awaited project is finally set to begin," he added.
In the campaign event in HA Atoll Hoarafushi Saeed also said:
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Hoarafushi and Ihavandhippolhu has been listed as assets of the newly created Maldives Industrial Development Freezone" Company
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The land reclamation from Hoarafushi lagoon for the project dubbed "Maldives Economic Gateway" will get underway this year with funding negotiations with an European bank ongoing
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The development bank will be established before the end of the year.
