The State Trading Organization (STO) has decided to relocate its fuel farm established at N. Maafaru International Airport to Thilafushi. Speaking on PSM News’ Raajje Today program, STO’s Managing Director Ibrahim Shimad said said that the decision to move the fuel farm from Funadhoo to Thilafushi was made due to numerous challenges in storing fuel in Funadhoo. He said that they are planning to move the current fuel farm operations in Funadhoo to Thilafushi. Shimad also said that this project will become one of STO’s biggest projects.
“It’s very difficult for large vessels to approach, and there are no opportunities to further expand the business due to the terminal in Funadhoo. Therefore, by relocating the fuel farm and bringing in economy-sized vessels, the fuel price will be lower and the fuel business will expand. Our goal is to establish a good storage facility in Thilafushi as soon as possible and set up storage up storage facilities of the right size based on the fuel needs of the Maldives,” Shimad said. While a consultant has been appointed for the work of relocating the fuel storage target to Thilafushi, Shimad said that the design and concept work of the site is currently underway. Shimad further said that once the detailed design and concept work is completed, the project will be completed within 18 to 24 months.
