The State Trading Organisation (STO) has announced plans to place three additional oil storage tanks in Kaafu Funadhoo, just off the northern side of the capital Malé.
Managing Director of STO Adam Azim said that the Maldives’ oil storage capacity needs to be increased, according to local media Sun Online.
“We are planning to place three more tanks in Funadhoo. If the oil reserve continues to decline at the present rate, we might face difficulties later. We’re planning to prepare for that,” the news outlet reported.
He added that efforts will begin soon to facilitate bigger vessels to enter the harbour.
“Right now the harbour can take up to about 8,000 ton vessels. We want to increase it to about 15,000 or 16,000 ton vessels.”