A consultancy agreement has been signed to develop transshipment harbors in the north and south of the Maldives along other international maritime related services.

Ministry of Economic Development said that the contract was awarded to the bid winning joint venture of Maritime Transport and Business Solutions Netherlands (MTBS) and the Denmark’s NIRAS. The agreement is worth USD 860,626.

At a special ceremony held at the Economic Ministry yesterday, the agreement was signed by the Director and Acting Permanent Secretary of the Ministry, Ahmed Migudhaadh and the Authorized Director of Commerce of MTBS, Anthony van der Hoest.

Under this consultancy agreement, a feasibility study will be conducted to develop transshipment harbors on Ihavandhippolhu in the north of the country and the most compatible location in the Huvadhoo sea in the south of the country.

Further studies will also be conducted on bunkering, ship repairs and supplying at the Hithadhoo Intentional Harbor in Addu City.

The Ministry said that the administration aims to conduct successful projects with the research under the consultancy agreement to diversify the economy.

This consultancy also focuses on other areas aside from the capital which in turn paves the way for development and improve the quality of life, according to the Ministry.