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ADB to aid in future STELCO projects

Shahudha Mohamed
26 August 2019, MVT 18:32
President of Asian Development Bank (ADB) Takehito Nakao visiting State Electric Company (STELCO). PHOTO: MIHAARU
Shahudha Mohamed
26 August 2019, MVT 18:32

Managing Director (MD) of State Electric Company Limited (STELCO) Hassan Mughnee disclosed on Monday, that the Asian Development Bank (ADB) was set to aid the company in future projects.

During his trip to Maldives, President of ADB Takehiko Nakao paid a visit STELCO to monitor the current projects carried out by STELCO in collaboration with ADB.

Speaking to the media about Nakao's visit, Mughnee stated that a lot of STELCO's current projects were carried out with ADB's aid, adding that ADB expressed interest over STELCO's drafted plans for the future.

"We highlighted some of the company's future plans while showing [Nakao] around the facilities. He expressed interest in the projects and encouraged us to begin the projects as soon as possible".

Additionally, Mughnee confirmed that discussions also took place about STELCO's efforts to generate 50 percent of total energy production by solar power. The parties also deliberated on the possibility of connecting all of STELCO's systems under the same network.

"We also discussed producing water from waste heat. He said this was a good thing and expressed that ADB will provide all help it can to make this happen", Mughnee said.

As part of ADB's President's visit to Maldives he will observe projects underway through bank aid, such as the waste management project in Thilafushi and progress in Hulhumale' Phase Two.

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