President Mohamed Muizzu has revealed that the Malé Commercial Port, set to be established at Gulhifalhu by the previous administration, will be moved to Thilafushi. Speaking at the Velana International Airport development project inauguration, the President said the development of the port at Gulhifalhu would not be optimal.

“We have decided to move to Thilafushi as it [Gulhifalhu] is not the most appropriate to develop the port at,” he said.

In line with the decision, the President said a world-class port would be developed at Thilafushi which, together with the development of the airport, will further diversify the Maldives’ economy.

The project, currently underway with reclamation at Gulhifalhu in progress, will proceed under a Line of Credit Facility from India, contributing 75 percent of the cost.

The port project is estimated to cost US$400 million (MVR 6.1 billion) and will have the capacity to cater to 400,000 twenty-foot containers.

The port is scheduled to be completed in 2026, with India’s Exim Bank, in August, saying that it was preparing to open a tender for the construction of the port.