Last island under Fenaka’s utility belt transferred to STELCO

In line with the decision of President Dr. Mohamed Muizzu, the State Electric Company (STELCO) has officially completed the transfer of utility services from Fenaka Corporation, with L. Fonadhoo becoming the final island to be integrated.

A special ceremony was held in L. Fonadhoo on Thursday to mark the milestone, during which STELCO Managing Director Dr. Ali Azuwar hoisted the national flag. The company’s corporate flag was hoisted by Ahmed Shurneez, General Manager of STELCO’s South Regional Department.

Speaking at the ceremony, Azwar highlighted the high expectations of the public following STELCO’s takeover of utility services in the islands. He described the decision as a strategic and essential move under the President’s policies and expressed his gratitude to the President for his leadership.

Azwar also assured the public that the company and its workforce remain committed to working tirelessly to meet their expectations.

Historically, STELCO’s service area was concentrated in the Greater Malé region and the atolls of Kaafu, Alif Alif, Alif Dhaal and Vaavu. Before the official dissolution process of Fenaka began, utility operations in Baa, Lhaviyani and Meemu atolls had also been transferred to STELCO.

With Thursday’s transition, utility services across 127 islands in the remaining atolls have now officially come under STELCO’s management.

STELCO stated that administrative restructuring had been implemented to strengthen operations and align services with corporate standards, establishing an efficient framework for managing island powerhouses.

The company further noted that four dedicated teams had been deployed across the atolls to facilitate the physical transfer of assets and operations from Fenaka to STELCO.

The decision to dissolve the state-owned enterprises Fenaka Corporation and the Road Development Corporation (RDC) was announced by the President during a press conference at the President’s Office last September.

During the announcement, the President said audit reports had revealed the previous administration’s mismanagement of Fenaka. He noted that despite significant efforts to stabilise the company, technical experts had advised that maintaining it as a separate entity was not sustainable.

In response, Fenaka had expressed its commitment to completing the transition to STELCO before the upcoming month of Ramadan, while assuring that no employees would be terminated during the process.