President Abdullah Yameen Abdul Qayyoom has stated that the regional standard port project and Gulhifalhu project will soon be tasked to a developer.
Gulhifalhu was initially leased for development to India’s Global Projects Development (GPD) as a joint venture with the Government. However, due to delays in proceeding ahead with the project, the area was revoked to the Government and is now being develop by a state owned corporation Gulhifalhu Investment Limited.
In his address to the nation on the occasion of the independence day, President Yameen announced that a vast port will be built in Thilafushi to address the issues faced in Male’ Commercial Port. He said the discussions were underway with strategic partners.
“Development of Thilafushi port, with resources and services to support the port, including storage, logistics and distribution network will positively impact the prices of goods and services,” he said.
With this project, the President said the transshipment services, free zones, value addition services and Gulhifalhu development will also begin.
The project was initially to be signed to Dubai’s DP World. However, the agreement was dismissed in the view that it disadvantaged the country. While DP World pledged to invest US$ 300 million, while the Government stipulated that no staff of MPL can be dismissed, hiring of Maldivians and that the project must be an MPL joint venture project.
