Cement supply shortage leads to price hike

Due to a shortage of cement in the Maldives, companies have begun selling cement at steep prices.

A Maldivian construction industry official said that the price of cement has been increased by other companies after STO limited the sale of cement. He said that although a cement bag costed MVR 105 earlier, prices have risen to MVR 170.

"It's very difficult to obtain cement. It is especially difficult to obtain cement for the islands. Villa and Apollo have also increased the price of cement," he said.

Managing Director of STO Hussain Amru said that the difficulties in the acquisition and supply of cement is due to the war between Russia and Ukraine. However, he said cement will be available from May 25 onwards.

Amru said that from next month onwards, STO's shipping company MSS will bring a boat to supply construction equipment and begin operations. A boat of 4,000 tonnes will be brought especially for this purpose.

"This is the largest boat to be brought to the Maldives. The ship will transport good at least once a month," he said.

STO has currently limited the sale of cement. In addition to STO, other companies bringing cement have also faced shipping delays.

Construction work was disrupted and companies faced difficulties in obtaining cement in January as well.