Maldives Ports Ltd. (MPL) has successfully secured the necessary funding for the proposed regional port development project on Laamu Atoll, according to MPL’s Chief Executive Officer, Mohamed Wajeeh Ibrahim. In a recent interview with the public service broadcaster, Ibrahim confirmed that the government had entrusted MPL with the responsibility of developing the port, a key electoral pledge of President Mohamed Muizzu.

The proposed port is expected to be located on Gaadhoo Island, Laamu Atoll. Ibrahim described the location as an ideal site for a commercial port. The port’s design and development would be undertaken with a focus on the tourism sector, he said.

The port is set to feature a comprehensive range of facilities, including bunkering services, storage facilities, a cruise terminal, and services specifically targeting transhipment. The port’s development would commence soon, Ibrahim anticipated.

Ibrahim disclosed that the project would necessitate a financial investment exceeding US$1 million. Contractor finance has been secured, he stated, paving the way for the project’s initiation within this year. Upon completion, the port is projected to generate 2,000 new employment opportunities, thereby significantly boosting the regional economy.

In addition to the Laamu Atoll project, MPL is concurrently working on enhancing other regional ports. Progress is being made on upgrading the Hithadhoo Regional Port in Addu City in the south. The state-owned port operator has successfully launched bunkering services at Hithadhoo Port and is planning to introduce these services at the Kulhudhuffushi Regional Port, Kulhudhuffushi City, Haa Dhaalu Atoll in the north shortly, Ibrahim added.