STO to establish storages in all atolls; sell fuel at base rates

President Dr. Mohamed Muizzu launches project to establish STO fuel storages in all atolls on November 7, 2024. (Photo/President's Office)

The Maldivian government, in partnership with the State Trading Organization (STO), has launched a project to establish fuel storages in all atolls of the Maldives, in a bid to ensure the availability of fuel at base rates to fishermen and members of the general public.

The project was inaugurated by President Dr. Mohamed Dr. Mohamed Muizzu in a ceremony held at the President’s Office on Thursday morning. He was accompanied by Fisheries Minister Ahmed Shiyam and STO’s Managing Director Shimad Ibrahim.

Shimad said that research conducted by the STO show that the greatest number of fishing boats operate in the Male’ area.

He said that the STO arranged for fishermen to be provided fuel at base rates from the Fuel Supplies Maldives (FSM)’s shed in Hulhumale’ back in June.

STO's managing director Shimad Ibrahim speaks at the inauguration ceremony of STO's new construction showroom in Hulhumale'. (Photo/STO)

The project launched on Thursday will see the STO establish fuel storages in 17 islands. They are:

HDh. Hanimaadhoo
HA. Ihavandhoo
Sh. Milandhoo
N. Manadhoo
Lh. Felivaru
R. Dhuvaafaru
AA. Mathiveri
V. Felidhoo
M. Mulak
F. Nilandhoo
Dh. Kudahuvadhoo
Th. Hirilandhoo
L. Gan
GA. Kooddoo
GDh. Faresmaathodaa
S. Hulhumeedhoo
Gn. Fuvahmulah

Shimad said STO needs assistance from the Fisheries Ministry to secure land in order to make setups in Felivaru and Kooddoo.

He said that the company will need assistance from the Local Government Ministry to secure land from the rest of the islands. He added that the ministry has already allocated land from the harbor area of many of the islands.

“As you see here, the plan is to establish the setups in the islands by January 2026, and provide fuel at base rates to fishermen and members of the general public. More locations will be added to this as the fisheries sector develops,” he said, as he made a presentation.

Shimad said the STO will be setting up fuel skid tanks or containers in harbor areas under the project.

Speaking during the ceremony, Shiyam provided assurance the administration will resolve the current challenges facing fishermen within the three years’ time.

He said that President Muizzu had been working on resolving the challenges facing the fisheries sector from the day he got elected to office.