The State Electric Company Limited (STELCO) is nearing the completion of its new Business Centre, a facility being constructed entirely by STELCO staff. Managing Director of STELCO, Hussain Fahumy, announced the development, highlighting the significant cost savings achieved through in-house construction efforts.
The two-story, 7,500-square-foot facility will soon open its doors, offering essential energy-related products and services, including engines, transformers, cables, and solutions for both new and renewable energy sectors. In a tweet, Fahumy praised the hard work and dedication of STELCO staff, noting that their contributions saved an estimated MVR 13 million that would have been spent if the project had gone to tender.
“This achievement stands as a testament to the expertise of our team,” Fahumy said, adding that the project reflects the administration’s vision for an energy-resilient Maldives. The centre will also include storage systems, ensuring the country is prepared for potential energy emergencies.
The Business Centre is part of STELCO’s broader strategy to bolster the nation’s energy infrastructure, in line with President Muizzu’s commitment to ensuring a secure and sustainable energy future for the Maldives. The facility is expected to play a critical role in the ongoing expansion and modernization of the country’s energy sector, further aligning with the government’s goals of promoting renewable energy solutions.
