President Dr. Mohamed Muizzu has announced that the Malé Commercial Port, planned by the previous government in Kaafu atoll Gulhifalhu, will be shifted to Thilafushi in the same atoll.
Speaking at the inauguration ceremony of the Velana International Airport development project, he said that the development of the port at Gulhifalhu was not the most feasible option.
"Since the development of the port at Gulhifalhu is not the most feasible, it is our decision to shift [the port] to Thilafushi," he said.
In line with that decision, President Muizzu stated that an international-class port would be developed in Thilafushi. He emphasized that the development of the airport and the establishment of the commercial port would open wide economic opportunities for the Maldives.
Reclamation of land for the construction of the port at Gulhifalhu is currently being acquired under India's Line of Credit facility, contributing 75 percent of the cost.
The project is estimated to cost USD 400 million (MVR 6.1 billion). The new port will have a capacity of 400,000 20-foot containers.
The port is scheduled for completion in 2026. India's Exim Bank stated in August that it was preparing to open a tender for the construction of the port.
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