SIFCO chooses Hawks over STO for fuel supply deal

Sifainge Cooperative (SIFCO) has entered into an agreement to procure fuel from The Hawks instead of State Trading Organisation (STO), according to reliable sources.

Previously, SIFCO sourced fuel through STO. However, multiple sources within the government and another company involved in the bidding process confirmed to Atoll Times that SIFCO has signed a one-year fuel supply agreement with The Hawks.

The agreement was initially proposed for a five-year term but was later adjusted to a one-year duration following complaints. No details regarding the pricing of the agreement have been disclosed.

The Hawks have denied claims that an agreement has been finalised.

Hawks General Manager Hussain Aman told Atoll Times that an email was received in October 2024 requesting oil supply proposals for SIFCO.

According to Aman, the request was sent to multiple major oil suppliers in the Maldives, including STO and Villa Hakatha. He stated that The Hawks, along with approximately four other companies, participated in a briefing session.

Aman did not confirm whether The Hawks secured the contract. He stated that verification would be needed before commenting further. He also noted that there was no agreement with SIFCO or the Ministry of Defence at this time.

"We sell fuel to the Maldives National Defence Force (MNDF) and the police only at the Fuvahmulah fuel station. Even before we acquired the station, the police and MNDF were purchasing fuel from the same location," Aman said.

Aman reiterated that no formal agreement exists between The Hawks, the Ministry of Defence, or SIFCO, adding that fuel supply operations under such an agreement have not commenced. He stated that any updates would be shared if an agreement is finalised.