STELCO Begins Island Utility Assessments in Addu City, Thinadhoo City After Fenaka Dissolution Plan
State Electric Company Limited (STELCO) has begun surveying utility services in Addu City and Thinadhoo City following President Dr Mohamed Muizzu’s decision to transfer utility operations from Fenaka Corporation Limited to the state-owned electricity provider.
In a post shared today on social media, STELCO said its teams are assessing the condition of utility infrastructure in the newly assigned islands as part of the transfer of responsibilities across the Maldives.
advertisement
advertisement
The transfer follows the government’s plan to dissolve Fenaka as part of a broader restructuring of state-owned enterprises. Muizzu said earlier this month that technical experts had advised that continuing Fenaka as an independent entity was financially unsustainable, prompting the decision to transfer its utility functions to STELCO.
މުޅި ރާއްޖެއަށް ޔުޓިލިޓީ ޚިދުމަތް ފޯރުކޮށްދިނުމުގެ މަސައްކަތް މި ކުންފުންޏާ ޙަވާލުކުރެއްވުމަށް ރައީސުލްޖުމްހޫރިއްޔާ ޑރ. މުޙައްމަދު މުޢިއްޒު ނިންމެވުމާ ގުޅިގެން، އަލަށް ޙަވާލުވާ ރަށްރަށުގެ ޙާލަތު ދެނެގަތުމުގެ ސާރވޭތައް މިހާރު ދަނީ ކުރެވެމުން. އެގޮތުން، މި ކުންފުނީގެ ޓީމުތަކުން… pic.twitter.com/ZB0yYnDKvy— STELCO (@STELCOMALDIVES) September 17, 2026
The President also said the restructuring would involve reducing staff numbers to retain only essential personnel across the affected state-owned companies.
Besides Fenaka, Muizzu had announced that he plans to dissolve the Road Development Corporation (RDC) as well. Both companies have faced financial difficulties and scrutiny over their operations, including concerns over high expenditure, large payrolls and alleged procurement irregularities.
The government has said the restructuring is intended to reduce systemic expenditure and operational duplication by consolidating utility and infrastructure services under STELCO and the Maldives Transport and Contracting Company (MTCC).
