Contract signed to build STO shop in Kulhudhuffushi

Sunday, November 29th, 2009

State Trading Organization (STO) has signed an agreement with Swift Engineering to construct an STO branch in Upper North (Mathi Uthuru) Province of the country.

A shop and storage facility of STO will be built in Haa Dhaal atoll Kulhudhuffushi island.

The contract signing ceremony was held in STO main office in the capital on 25 November. Speaking at the ceremony, Chief Executive Officer (CEO) of STO, Shahid Ali, said that the work to build a shop and storage facility was finally contracted after a lot of work and wait.

Shahid further said that STO was planning to arrange for cargo vessels from abroad, to directly dock in Kulhudhuffushi island, so that goods can loaded from that port itself. He said that if this can be done, goods can be sold at an affordable price to this province as it won’t be transferred from Male’ to Haa Dhaal atoll.

Shahid also said that since it will take time to build its branch in Kulhuduffushi, they are planning to rent a place so that they can begin their service as soon as possible.

The CEO of STO, Shahid, further said that they will open its branches in all the provinces of the country.

Managing Director of Swift Engineering, Saudullah said that the their company won the bid for doing this work about three month ago but signing of contract was delayed due to Tender Board.

According to the contract, the company was given 8 months to finish its work of building a shop and storage facility in Kulhudhuffushi island.

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