STO to develop international oil bunker operations in Maldives

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Mr. Hussain Amru, the Managing Director of State Trading Organization (STO) revealed the company’s plan of establishing an international oil bunker operation in the northern tip of the Maldives.

According to Mr. Amru, the oil bunker operation will be established on the island of Haa Alif Ihavandhippolhu, which is geographically the northern-most island of Maldives.

Mr. Amru noted that the area was heavily traversed by international freight-liners, cargo ships and other heavy vessels while the area lacks refueling facilities and maintenance pit-stops.

Moreover, he pointed on the economical benefits such an initiative will provide to the Maldives in terms of improved earnings and an overall reduction in fuel prices in the local consumer market.

Furthermore, he also speculated that such a large-scale oil bunkering operation will become a major economic component in the country capable enough to compete the country’s strongest economic sector – tourism industry.

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