Managing Director of State Trading Organisation (STO) Hussain Amr has revealed that fuel storage systems will be built in Ihavandippolhu, Haa Alifu Atoll to begin a marine bunkering service to supply ships with fuel.
Speaking at the annual general meeting (AGM), Amr said it is one of the largest projects being carried out by STO. He highlighted the company’s fuel terminal has been in service for a long time but that there is no way to expand and further develop the fuel terminal, despite increasing demand. He noted the expanding tourism and construction sectors in the country call for the establishment of a new fuel storage system in a strategic area.
Furthermore, Amr said the Maldives is situated in a unique location and that more than 300 cargo ships travel across Haa Alifu Atoll every day. He said that STO has decided to target the marine bunkering service to these ships, as currently there are no businesses providing their services in the region. He added that STO will begin the service with a floating storage system and that the service is expected to bring major changes to the country’s economy.