Government Seeks Private Sector Input for Strategic Maritime Project

The Maldivian government has officially opened the consultation process for the development of a commercial port and bunkering facilities in Fonadhoo, Laamu Atoll. Interested investors and private businesses are invited to express interest until 7 August.
According to the Ministry of Economic Development and Trade, this project is a key national initiative aimed at taking advantage of Laamu Atoll’s location near the One and Half Degree Channel, a busy trade route in the central Indian Ocean.

The plan is to establish a multi-purpose commercial port alongside infrastructure for bunkering and maritime services. The ministry sees this as a strategic move to leverage increasing maritime traffic while also contributing to long-term economic diversification.

During the consultation phase, the government will gather input on several aspects of the project including financial feasibility, revenue models, and business frameworks. Feedback will also be sought on possible additions such as logistics hubs, vessel repair services, and yacht assistance facilities.
The ministry noted that discussions during this stage may lead to changes in the scale and scope of the project, based on investor interest and input. Once the consultation is complete, the official recruitment process for investors and business partners will be launched.

This is not the first bunkering effort by the Maldives. The State Trading Organisation (STO) currently operates a bunkering facility in Ihavandhippolhu, in partnership with global energy firm Vitol. The government is also exploring the expansion of bunkering services in that region.

These efforts reflect a broader push to diversify the Maldives’ economy beyond tourism and strengthen its ability to withstand global economic shifts.