The government has made the decision to relocate the fuel storage facility in Kaafu atoll Funadhoo to Maagiri Falhu, situated near Thilafushi within the same atoll.
Public Policy Secretary of the President's Office, Abdulla Nazim, said yesterday that the Economic Council has begun to initiate the process of relocating the fuel storage facility by the State Trading Organization (STO) from Funadhoo to Maagiri Falhu.
Divers and various associations have voiced concerns regarding Nazim's statements. They said that relocating the fuel storage to Maagiri Falhu, near the fishing village of Kanduoih-giri and the Sheraton Resort, could have adverse effects on the natural ecosystem in that area.
The lagoon boasts seven dive sites renowned for their abundant coral formations and diverse marine life, Eco Care Maldives said.
In response, Construction and Infrastructure Minister Dr. Abdulla Muththalib clarified that the fuel storage facility in Funadhoo would not be relocated to Maagiri Falhu near the Sheraton Resort.
The government's move is part of a major transformation of the entire Male' area, including the airport.
The details of the project were shared by President Muizzu during the inauguration ceremony of the expansion of the Velana International Airport.
The President said that alongside the airport development project, the work on a new vision will also begin. This includes land acquisition for the project, the relocation of the seaplane terminal, and transfer of the fuel storage situated in Kaafu atoll Funadhoo, he said.
Following the relocation of the fuel storage farm, the President said that Funadhoo would be designated as a special economic zone, with plans to establish an international financial center on the island.
"Making that place [Funadhoo] into an international financial center and developing that location is a key aspect of our vision," said President Muizzu.
President Muizzu said that the process of relocating Funadhoo fuel storage has already commenced, and discussions will take place in the Cabinet regarding the establishment of a company for the development of the financial center.
