Minister of Economic Development and Trade, Mohamed Saeed has refuted reports of a setback in the recently inaugurated bunkering services in the island nation, instead insisting that efforts are underway to expand services.
International bunkering services were launched in the north of the Maldives in September last year with a government investment of around USD 20 million.
Speaking during a press conference on Monday, Minister Saeed insisted that bunkering services had not suffered a setback despite some media reports suggesting otherwise.
He added that efforts to develop a port under the Economic Gateway Project in the northernmost Ihavandhippolhu Atoll to serve vessels seeking bunkering services is underway as planned.
“An off-port area has now been developed in the north. Though we launched this service without a specialised port, the company entrusted with the port development project is doing the work,” he said.
The services are being provided by State Trading Organisation (STO), in collaboration with a globally renowned company, Vitol Bunkers.
Minister Saeed refused to put a number to the revenue generated through bunkering thus far, instead asked reporters to get the exact figures from STO.
According to the Minister, a law on international bunkering is being drafted while efforts are also underway to facilitate financial assistance to businesses engaged in bunkering services.