STO to Develop Multi-Story Warehouses in Male’ and Hulhumale’

State Trading Organization Plc (STO) has announced their decision to develop multi-story warehouses in Male’ and Hulhumale’. A multi-story warehouse is a building designed to accommodate numerous warehouses at the same place in different floors. None of currently existing warehouses owned by STO throughout Maldives has been structured in this manner. STO expects to resolve issues presently faced by the company in storing goods by the development of the warehouses. One of the issues highlighted by the company is a large expenditure being allocated to as rent payments to warehouse spaces necessary for the company but which they do not own.

The company has invited eligible and interested parties to submit written Expression of Interest (EIO) with respect to carrying out a feasibility study, design and consultancy services for this development project prior to 4pm of October 14th.

Warehouse to be built in Male’ will be located at Male’ block number 5, a piece of land measured as 20,000 square feet. The building will be 18 meters tall and will consist of approximately 5 to 8 floors specifically for the use of storing medical supplies imported by the company.

On the otherhand, a multi-purpose warehouse will be built in the Hulhumale’ Industrial Zone in an area measuring to 40,000 square feet with 18.5 meters tall in height comprising to approximately 5 to 8 floors as well.

STO is a public company with multiple subsidiaries, join ventures and associates with business focus on petroleum, cooking gas, construction materials (including cement and roofing material), medical supplies and pharmaceuticals, home appliances, electronics, supermarket products and insurance.