The Managing Director of State Electric Company Limited (STELCO), Mr. Ahmed Shareef has disclosed the corporation’s plan to manufacture bottled water in a large-scale capacity.
While being interviewed on a broadcast program, the STELCO front man noted that the company will no longer train focus on generating income exclusively from power services.
Moreover, Shareef had commented on active business development plans to seek other feasible revenue streams for the utility provider.
Shareef further noted that the 50-megaWatt power generator at Hulhumale’ powerhouse was capable to produce distilled water and use for manufacturing purposes.
The utility provider MD had noted on STELCO’s current plan to assess market potential for bottled water amid stiff competition from other local competitors.
Other prospective plans of broadening STELCO’s portfolio include real-estate, marketing and advertising, as well as power and utility supply to tourist resorts.
Under the marketing and advertising segment, STELCO aims to install LED TVs across various points in the capital city and in the Greater Male’ Region.
The resort segment includes plans on producing energy for the resort industry, power generator setup and maintenance services.
Meanwhile, Shareef noted that STELCO’s planned ventures will greatly reduce utility bill costs incurred on consumers since the corporation will have its revenue adjusted through other major segments as well.