A project to increase capacity for petrol and diesel storage at the Maldives’ main oil storage facility has started.
State Trading Organisation said in a press conference that the $35 million (€31 million) project will also involve improvements to the outer jetty where tankers dock. Additionally the company will also acquire an oil tanker that can carry 20,000 tonnes of oil.
Ahmed Shaheer, MD of State Trading Organisation says that the expansion is necessary to address the lack of storage in the Maldives compared to the demand for it.
‘The conclusion of this project will see great advantages for the oil trade,’ says Shaheer.
The project is due to be complete in 10 months and will double storage capacity. Currently, only 40,000 tonnes of oil can be stored at the facility in Funadhoo.