STO brings 8,000 tons of aggregate from Dubai

State Trading Organization Plc (STO) has imported a 8,000 ton shipment of aggregate from Dubai to ease the current shortage of aggregate faced by the Maldives construction industry.

Shaahid Ali, Managing Director of the biggest importer of aggregate and river-sand to the Maldives told Sun today that their shipment from Dubai was a means to ease the current shortage and that the company is also currently trying to obtain the product from Sri Lanka.

“This will ease on the market shortage. We are still trying to get aggregate from Colombo. Even though we’ve already got the permission to bring aggregate from Colombo, it is being delayed due to some things that need to be arranged. We predict that there will be no delay from tomorrow onwards,” Shaahid Ali said.

He said that a selling price for the shipment has not yet been decided. The price will not be higher than the current market price, Shaahid said.

“Regardless, the cost from Dubai is higher. But it will not be higher than the price per sack in Male’. The price of a sack in Male’ is at MVR 70. We predict that we can sell it cheaper than that,” Shaahid said.

Up until now, Maldives has been importing aggregate and river-sand from India. Indian authorities have however ceased the permission extended to Maldives. Maldives importers are now trying to obtain the goods from Sri Lanka and Bangladesh.