The government will introduce marine refuelling and reexport services under the first phase of the Maldives Economic Gateway (MEG) Project, Minister of Economic Development and Trade, Mohamed Saeed revealed Thursday.
In an exclusive interview with PSM News, on the sidelines of President Dr Mohamed Muizzu’s ongoing tour of several islands of Haa Alifu Atoll, Minister Saeed said the feasibility study of the landmark project is underway through international consultants and project management.
“We have secured project management. The next step is to get the project off the ground within this year in line with the President's vision of the Maldives Economic Gateway,” he explained.
“We expect to start working practically by the middle of this year. It is the most important thing for the development of this region.”
MEG Project, formerly known as the Ihavandhippolhu Project, is a key strategic initiative of the government aimed at diversification of the economy by harnessing the geographical advantage of Ihavandhippolhu Atoll, located at the northernmost point of the Maldives.
The project encompasses a broad spectrum of services and infrastructure, including ports, bunkering, refuelling, warehousing, repair, real estate and tourism aiming to develop a comprehensive maritime hub, with a potential reclaimable area of up to 4,000 hectares.