STELCO: High voltage cable project awarded through international tender

State Electric Company (STELCO) has said that the project to install a high voltage cable between Male' and Hulhumale' was awarded to a contractor via international tender.

Following the reports of the Anti-Corruption Commission (ACC) ordering STELCO to hold the project due to corruption in awarding the project on an online local media outlet, STELCO issued a statement last night saying that they provide services and make acquisitions to provide the service, are done responsibly and outside of influence and within the code of Corporate Governance.

Installed via the China-Maldives Friendship Bridge, the Male'-Hulhumale' interconnection network project was contracted under the Contractor Finance Regulations according to STELCO.

The project was awarded to Dongfang Electric International Corporation (DEC).

STELCO said that it was the best choice financially and technically and the rumors saying that the project was awarded without public announcement are false.

The other company that proposed a bid for the project include China National Electric Engineering Co. Ltd. (CNEEC) according to STELCO and the project was contracted to DEC for USD 44,462,087 to be paid in seven years over the CNEEC proposal of USD 56,640,262 to be paid within five years.

The company said that the bids were evaluated by a team that consisted of electricians as well.

STELCO said that the high voltage cable across the bridge will begin at the 50 megawatt power station in Hulhumale' to Male' via 132 kilowatt high voltage cable and having the project go along with the bridge project, the company is most benefited when the project is completed as soon as possible.