STO reduces aggregate, river sand prices

The government’s main wholesale and retail company, State Trading Organization (STO) has reduced its prices for aggregate and river sand by 40 percent.

In a statement today, STO said the move follows the ease of export restrictions on aggregate and river sand from India, and said the company hopes to see an alleviation of the recent challenges faced by the Maldives construction industry. The company’s prices are currently the most competitive in the country, said STO.

STO has two main outlets for construction material in the capital Male'; one in Ameenee Magu and the other near Meeru Bahuru Harbour in the northern side of the island.