State Trading Organization (STO)'s Managing Director Hussain Amr has said the company would start bunkering services with an oil storage facility in Ihavandippolhu.
Speaking at the STO's annual general meeting on Monday night, Amr said Maldives's one-degree location is a unique path and that its benefits should be reaped.
"There are not many options to provide service in the area. Our goal is to go for international bunkering with strategic storage. First, we will attempt to work with a floating storage. If we succeed, our economy will flourish," Amr said.
Amr said more barges had been added to FSM's fleet and that the move would improve the company's service.
The former government attempted to implement a major project, iHavan in Ihavandhipolhu. The establishment of bunkering services, tourism facilities, and duty-free zones was planned under the multi-billion dollar project.
