The port will initially have capacity of 400,000 TEUs and will include development of the main administration area, container terminal, general cargo terminal, port service quay, bonded warehouse, domestic quay.
According to two senior officials from EXIM Bank of India, which extends Line of Credit to India’s neighbours and countries across the world for undertaking India funded infrastructure projects, the outlay for the project is $400 million. “Currently, land reclamation work is being undertaken for the development of the (greenfield) port,” a senior official from EXIM Bank said.
The existing main port located in Maldives’ capital Malé – Male Commercial Harbour – has only one berth for cargo handling and is congested exceeding its handling capacity. The upcoming port at nearby Gulhifalhu is expected to address the capacity issues.
Gulhifalhu Island, a non-residential island, is being developed by Gulhifalhu Investment Corporation through a land reclamation process. “The land reclamation process is a challenging one. Maldives being vulnerable to climate change impact is very strict about adhering to proper environmental norms and hence the project is running at a gradual pace,” said another senior official from EXIM Bank.
