State Electric Company Limited (STELCO) has decided to buy 13 generator sets of two megawatts from India's Mohan Mutha Exports which proposed the highest price.
Adhadhu has learnt that Mohan Mutha offered to sell the generator sets for MVR 146.74 million. Trade Promoters offered three options, for MVR 105.61 million, MVR 113.91 million and MVR 117.82 million.
A source familiar with the transaction told Adhadhu that STELCO decided to buy the generator sets from Mohan Mutha because the payment can be done in MVR without a financial guarantee and advance payment.
"They don't take an advance payment. They don't need any financial guarantee. They don't need a bank letter either. And the payment has to be done in Maldivian Rufiyaa," the source said.
Quotations received:
- Trade Promoters (Option 1) - MVR 105,619,372.85 (Delivery in 31 weeks with no financial charge)
- Trade Promoters (Option 2) - MVR 113,913,448.15 (Financial charge of nine percent and delivery in 31 weeks)
- Trade Promoters (Option 3) - MVR 117,823,285.81 (Financial charge of nine percent and delivery in 31 weeks)
- Mohan Mutha Exports - MVR 146,746,600 (Six percent financial charge and delivery in 31 weeks)
The source said Trade Promoters offered to sell the generators in dollars at a time when STELCO and the government were in a difficult financial situation.
STELCO Media Officer Ahmed Mohamed said the company will do everything necessary to provide sustainable services and has not done anything to facilitate corruption.
The 13 generators are needed to provide uninterrupted services. The generators are needed this year and have not been acquired yet.
Mohan Mutha agreed to supply the generator sets within six months so it will be available next year at the earliest.
