Design work underway with decision to relocate Funadhoo fuel farm to Thilafushi

Nov 25, 2024, 4:29 AM
A fuel carrier at Funadhoo port.

A fuel carrier at Funadhoo port.

State Trading Organization (STO) Managing Director Shimad Ibrahim has said that design work is underway following a decision to relocate the fuel farm in Funadhoo to Thilafushi.

Appearing on Public Service Media (PSM)'s Raajje Miadhu show on Sunday night, Shimad said STO has "received the good news on obtaining a decent-sized land in Thilafushi." He added the land is sufficient to build a larger port than the one in Funadhoo.

"So our aim is to establish a good storage facility in Thilafushi as soon as possible and establish decent-sized storage based on the fuel needed for Maldies," he said.

He noted that there were storage constraints in Funadhoo because of the increasing demand for fuel in Maldives.

STO MD Shimad. -- Photo: Adhadhu
STO MD Shimad. -- Photo: Adhadhu

STO MD Shimad. -- Photo: Adhadhu

Shimad highlighted that a consultant has been hired to work on the concept, design and pricing of the entire project. After that, the project will open for bidding. He said the project will take between 18 and 24 months to complete.

Shimad noted that relocating the fuel farm to Thilafushi will bring a positive impact on oil prices as storage capacity will increase.

The government initially planned to relocate the fuel farm to Kaafu Maagiri Falhu which is under Housing Development Corporation (HDC).

Maagiri Falhu lagoon was given to HDC as the price of land allocated under the Binveriyaa and Gedhoruveriyaa housing schemes during the government of former President Ibrahim Mohamed Solih.

Planned concept for Funadhoo.
Planned concept for Funadhoo.

Planned concept for Funadhoo.

The current government under President Dr. Mohamed Muizzu decided to vacate Funadhoo to develop it as a special economic zone and open an international financial centre. The project will connect Male', Funadhoo and Velana International Airport (VIA).

Maldives Airports Company Limited (MACL) signed an MoU with China's Beijing Urban Construction Group (BUCG) on October 15 to connect the three islands by monorail.

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