State Trading Organisation (STO) has signed an agreement with Apollo Holdings Private Limited to work as a strategic partner of STO to expand and market the business of Maldives Cement.
The agreement was signed by General Manager of STO Energy and Construction Solutions Mohamed Eman and Chief Operating Officer of Apollo Holdings Mohamed Waheed.
The agreement signed with Apollo Holdings is one of the largest agreements signed in the Maldives so far and is a major step towards expanding the construction material supply business of the two companies, according to STO.
Under the agreement, STO and Apollo will provide Maldives Cement to all parts of the country at affordable prices. STO expressed hope the new agreement will expand the trust of the public towards Maldives Cement.
In addition to conducting major real estate projects in the Maldives, Apollo Holdings is one of the largest suppliers of construction materials to atolls. Maldives Cement is a joint venture between STO and Raysut Cement Company of Oman.