The Maldives Transport and Contracting Company (MTCC) and the State Electric Company (STELCO) have signed an agreement to construct oil storage tanks in Hulhumale’ to support the region’s power supply needs.

The agreement, signed on March 9, outlines the establishment of two 80,000-litre oil tanks at Hulhumale’ Powerhouse Annex 2 in Hulhumale’ Phase 1. The initiative aims to enhance power generation capacity in the Greater Male’ Region, particularly during periods of high electricity demand.

STELCO’s Managing Director, Hussain Fahmy, signed the agreement on behalf of the company, while MTCC’s Managing Director, Ahmed Saudhee, represented MTCC. Under the agreement, MTCC will be responsible for the design and fabrication of the tanks, ensuring they meet the necessary requirements for efficient fuel storage and supply.

STELCO is currently working on expanding its power generation capacity in Hulhumale’, with plans to set up 17 MW of additional power facilities ahead of the peak electricity demand expected in the warmer season and during the fasting month of Ramadan. The company anticipates a rise in energy consumption during this period and aims to maintain an uninterrupted power supply across the Greater Male’ Region.