Thursday 20th Jun 2024
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Fenaka

Vaadhoo Power Station Unfinished Despite Previous Government Spending 52 Million MVR

The last government spent 52 million MVR on the construction of the new power plant in G.Dh. Vaadhoo, despite this, the power plant is nowhere near completion.
According to figures released by Fenaka’s Managing Director, Muaz Mohammed Rasheed, today, a total of 52,559,568 MVR was spent on the construction of the new power plant in Vaadhoo by the last government. At such a high cost, it is not even close to completion. The cementing and sheltering of the power plant building has been left unfinished.
According to statistics, the staff who built the building were paid 24,110,566 MVR by the previous government. They had spent 12,490,778 MVR for materials and budgeted 1,413,852 MVR in petty cash. The two-story building, which is not even close to completion, was started by the last administration, who spent over 52 million MVR on the building, despite the original market value being 12,932,623 MVR.
In addition to Vaadhoo, H.A. Dhidhdhoo had been allocated a power plant, with 49,354,422 MVR spent for the construction of it. The previous government also allocated 22,666,587 MVR for the construction of Central Power Station buildings in Madaveli and Hoadedhdhoo. However, the work is not yet completed.
The previous government's Managing Director of Fenaka, Mohammed Saeed, has been criticized for not showing adequate results compared to the amount spent on power plant projects.
He has been accused of corruption in the past while serving as the MD Fenaka. In addition to corruption issues, when this government took over, Fenaka was in a debt of 4.1 billion MVR from the last five years. The previous leadership had taken out 871 million MVR in loans and expensed 3.2 billion MVR in payables to various parties.
They had been heavily criticized for not paying the suppliers. By the time the new administration came to power, Fenaka had been found to have hired 8100 staff during President Ibu Solih’s time as president.