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STELCO expresses interest in investing in other businesses

Managing Director of State Electric Company Limited (STELCO) Hassan Mughnee has expressed interest in investing in other business ventures, in addition to the focus on providing electricity for Greater Male’. 

Addressing at the annual general meeting, Mughnee explained STELCO is now working to diversify its operations and invest in other profitable businesses. Mughnee said STELCO plans to invest in sanitation and renewable energy projects in addition to the current focus.

Highlighting the new plans, he said those are good investments as the new prospects also remain amongst the key pledges of the administration. Mughnee further explained STELCO has the capacity, experience and expertise to invest and run other projects.

As a pilot project, STELCO has now begun to provide safe drinking water and waste water disposal in Ukulhas, Alifu Alifu Atoll.