The Maldives Transport and Contracting Company (MTCC) has been officially awarded the contract to design and install two 80,000-litre oil storage tanks for the State Electric Company (STELCO) in Hulhumalé Phase 1, as part of a strategic effort to bolster power backup for the Greater Malé Region.

The agreement was signed yesterday in a brief ceremony. STELCO Managing Director Hussain Fahmy signed on behalf of the company, while MTCC Managing Director Ahmed Southee represented MTCC.

The tanks will be installed at the Hulhumalé Powerhouse Annex 2, providing a vital 160,000-litre storage capacity aimed at ensuring an uninterrupted fuel supply for power generation during the summer peak season and the fasting month of Ramadan.

STELCO stated that the increased oil storage will significantly enhance their capacity to meet the growing electricity demands in Hulhumalé and the surrounding regions. The project is part of the company's broader initiative to install 17MW of new power generation capacity in Hulhumalé in the lead-up to the fasting month.

"The demand for electricity in the Greater Malé Region rises notably during Ramadan and the summer months. These preparations are critical to ensure continuous, reliable service to residents," STELCO noted in a statement.

MTCC will oversee the design, fabrication, and installation of the tanks under the agreement, reinforcing the company’s active role in key national infrastructure projects.

This collaboration between STELCO and MTCC is a crucial step in fortifying energy infrastructure in one of the fastest-developing urban areas of the Maldives.