STO cuts prices of construction material

An outlet of STO Construction Materials. (Photo/STO)

State Trading Organisation (STO) has reduced the prices of its construction materials.

The company announced today that its cement, fine sand and types of metal would be available at a cheaper rate than before. STO stated that in addition to making these products available for the public at a more affordable rate, these changes were to fix the challenges posed to the construction industry and to aid in the success of small and medium-sized enterprises. 

The Maldives Monetary Authority and several economic experts have noted that the Maldivian construction industry was slowing down its pace as well as the economy. The steps taken by STO today increase the likelihood of a boost to the industry and economy of the country. 

STO conducts trade in the construction industry under STO Construction Materials. The company has previously stated that it always aims to provide quality and affordable, long-lasting products to its customers and maintain its prices at a steady rate.