The project to relocate Malé’s commercial port to Thilafushi is targeted for completion by November 2028, Minister of Economic Development and Trade Mohamed Saeed has said.

Speaking to the media during President Dr Mohamed Muizzu’s visit to the project site, Minister Saeed described the port as a key national development project, noting that limited capacity at the existing port has become a major constraint on economic growth.

The first phase is scheduled for completion by 11 November next year. Once fully operational, the new port will include an international quay wall, warehouses, storage facilities and wholesale outlets. Plans also include a free zone, bonded storage and links to Malé and Hulhumalé for cargo transportation, as well as air cargo connectivity.

Minister Saeed said the project would ease cargo clearance, reduce logistical challenges for businesses and lower living costs. He noted that clearance of goods such as food and fresh produce currently takes seven to eight days, but is expected to be completed within a day once the new port becomes operational.

The 60-hectare port is expected to initially handle 390,000 TEUs annually, with capacity increasing to 1.8 million TEUs upon completion. It will include a 375-metre quay wall for international container vessels, with a depth of 14.6 metres, and a separate quay wall of around two kilometres for domestic vessels.

The project is expected to reduce vessel turnaround time to around two days, compared with the current seven to 14 days at Malé’s commercial port. The port is planned to open with two ship-to-shore cranes and one mobile harbour crane.

Construction is under way, with the first 100 metres of the inner harbour quay wall completed and around 40 per cent of backfilling in the area finished. Land levelling, road construction and the production of precast concrete blocks are also progressing, while the process of selecting a contractor for the terminal buildings is ongoing.

Minister Saeed said the project would support investment, particularly in construction and tourism, and help lay the foundation for the Maldives’ economic development goals for 2040.