President Mohamed Muizzu has said the government is seeking a new developer for the Laamu Maritime Hub without upholding an MoU signed for the same project with a Chinese company more than an year ago.

In April last year, Muizzu visited Fonadhoo and an MoU was signed with China's CAMCE Company Limited to establish an integrated maritime hub in Gaadhoo.

On April 11, 2024, the MoU was signed by the Maldives Ports Limited (MPL). But no work has been carried out over the past 1.5 years.

Muizzu, who is visiting Laamu atoll again, said last night that the government was seeking a developer for the project. An announcement was made by the Economic Ministry on July 8.

"We have now opened for expression of interest, approaching various parties and working to reach an agreement between MPL and the company with the best proposal," he said.

Muizzu did not mention the previously signed MOU or the company.

Adhadhu previously reported that the company has been blacklisted by major international banks. The Kadhdhoo airport development project which was previously handed over to the Chinese company was given to Maldives Airports Company Limited (MACL) last night.

The government announced that it would develop a transshipment port, a cruise terminal, a yacht marina and an eco-resort at the Gaadhoo Integrated Maritime Hub.

The development of transshipment ports in the south and the north of the country is a pledge made by Muizzu.