Minister of Economic Development Fayyaz Ismail has revealed the funds required for the development of the transshipment port in Gulhifalhu have been arranged.
Speaking to PSM News, Minister Fayyaz said the funds for the port development have been arranged through Exim Bank of India. The minister said the consultants will provide the project report by the end of this month, while construction of the port is expected to begin during the fourth quarter of the year. He said the port will be developed to contemporary international standards, noting the operations of the port will be handed over to Maldives Ports Limited.
The previous administration had decided to develop an international port in Thilafushi to resolve the lack of space in the commercial port of Male’. However, the current administration decided to develop the international port in Gulhifalhu instead.
The project to develop an international transshipment port in Gulhifalhu is one of the major projects included in State Budget 2020. The administration says the project will help to reduce the import expenses and resolve the difficulties faced in loading and unloading international shipments.