STELCO to undertake new housing project

State power company STELCO is working on launching another housing project in Villimale' for its employees, the company company's Managing Director Ahmed Shareef Adam has said.

The project was announced by Shareef at a meeting held for STELCO employees at Thaajuddin School on Saturday night.

Shareef did not share further details of the new housing project at the meeting. However, he announced the monthly rent payable for the flats built for STELCO employees in Hulhumale' Phase II.

According to Shareef, one-bedroom apartments will cost MVR 5,622 per month, and an additional MVR 1,000 will be charged as a maintenance fee. The monthly rent for a two-bedroom apartment is MVR 10,652, with an additional MVR 1,300 charged as a maintenance fee.

Shareef assured STELCO employees that the apartments would be ready for occupancy by August 6. Rent will not be charged until December this year, he added.

STELCO has spent MVR 640 million to build 360 apartments in two 15-story towers in Hulhumale'. Shareef said the company company's total spending on the project would cross MVR 700 million if the cost of recreational facilities such as swimming pool and other facilities are included.

"This amount was spent to provide housing for the employees. That is something I want to note with great pride," Shareef said.

Shareef requested STELCO employees to accept the company company's efforts for its employees and to provide good service to the public.