K. Male' | Shan Anees | 01-June-2018 | Friday 14:00 | twitter | Business | 997
The State Trading Organization (STO) has unveiled plans to construct a harbour in Gulhifalhu island, used for industrial purposes in Kaafu atoll, which is to be used to unload their goods.
Ahmed Shaheer, the state retail and wholesale company’s managing director, said at their annual general assembly on Thursday night that preparations have already been made.
Shaheer said that the company has leased land to construct the harbour and that it will be large enough to accommodate barges and large carrier vessels. The project will cost an estimated MVR 308 million.
While the harbour will take about three years to be completed, STO is also working to set up a cement and concrete plant at the island, to cater to an increase in demand for their ‘ready-mix concrete’. The latter project will cost an estimated MVR 45 million.
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