The government of the Maldives has reopened the Ihavandhippolhu port project for proposals from interested companies. There is a new round of bidding for the transshipment port project, according to the Spokesperson for the President’s office.
A public-private partnership approach based on construct-operate-transfer is being used to develop the International Container Transhipment Port on the north side of the Maldives Ihavandhippolhu.
A significant shipping route lies near the Ihavandhippolhu atoll, according to the Economic Ministry. In fact, studies have revealed that it is the best location to build this new port.
A 900-meter-long quay is planned for the first phase of the project, which is expected to be finished in 2024. It will have a capacity of 1.85 million TEU. As part of the second phase, the capacity will be increased to 3.43 million TEU by 2033, and the quay length will be increased to 1,320 meters.
Interested parties have until April 29, 2021, to submit their expressions of interest. On the Ministry of Finance’s website, you may download the project documentation. However, none of the six interested companies’ bids met the requirements for awarding the project.
MTBS from the Netherlands, Riyan Private Limited from the Maldives, and Niras from Denmark were engaged as part of the initial contract for feasibility and concept planning as well as consulting work on the project.
The estimated cost of this project is 466 million dollars.