STO Seeking Buyers for ‘Ekulhivaru’ Island
State Trading Organization PLC (STO) is seeking potential local or foreign firms interested in buying the Leasehold Rights of ‘Ekulhivaru’ Island, which has been leased to STO for the purpose of resort development. STO intends to find a buyer or investor to develop a resort at the Island.
Ekulhivaru Island is situated at Noonu Atoll, 200 kilometers from Velana International Airport. The 19.2 Hectares island with lush tropical vegetation is accessible by seaplane or domestic flights via Maafaru Airport, which is located at the vicinity of the Island. The oval shaped Island is hosted by a reef system consisting of a total length of 1175 metres and width of 809 metres.
STO invites interested parties to submit their Expressions of Interest (EOI) by 6th November 2019. There will be a pre-qualification process which will finalise the parties eligible for tender process. Further details regarding the process are available at their website www.sto.mv
For more than five decades, State Trading Organization PLC (STO), a publicly listed company in the Maldives with an extensive contribution for the country’s development. Today, STO is considered among the biggest employers in the country with a workforce of 2000 staff. Their business portfolio ranges from the provision of staple food, medical supplies, fuel supplies to the country along with a range of other products and services including construction material, tools, a variety of consumer goods with food, home appliances and electronics.