Bunkering services can be commenced within a month: Minister Saeed

Minister of Economic Development and Trade Mohamed Saeed has stated last night that the international bunkering service in Haa Alif, Ihavandhippolhu being set up by the State Trading Organization (STO) will be commenced within the next month or so.

Saeed said that this will lead to increased revenue, with a USD 400 million increment possible for GDP by next July.

The minister made these comments while speaking at last night's People's National Congress (PNC) rally.

He stated that the bunkering project will be completed and services officially commenced within approximately a month. He revealed that in the past six months, STO has purchased two large tankers required for bunkering services.

Saeed further stated that STO is collaborating with Maldives National Defence Force (MNDF) to update charts, and is also working with Maldives Customs Services, as well as Maldives Immigration, to commence bunkering services.

He assured that preparations are being set in place at an internationally accepted level to mitigate any adverse environmental effects that the bunkering service may pose.

"By about three weeks ago, STO has announced for applications to 40 new jobs for bunkering services," Saeed said.

"God willing, in about a month from today, the government will officially commence bunkering services in the north," he declared.

Saeed emphasized that the commencement of this service will have a significant positive impact on the country's economy. Maldives GDP which is currently USD 6.5 billion will see an increase of USD 400 million by July next year, he said.

The project will also prove to be a boost to small and medium enterprises, and open up numerous new jobs, Saeed said.

STO signed an agreement with Netherlands' Vitol in March to build an international bunkering facility in Ihavandhippolhu, also known as the Maldives Economic Gateway. Fuel storage facilities are also being set up so as to allow ships to refuel at the international bunkering facility.

With the geographical location of Maldives, over 300 ships travel past Ihavandhippolhu daily, with only limited services available to them at the location to date.