President Dr. Mohamed Muizzu has announced the decision to dissolve Fenaka Corporation and the Road Development Corporation (RDC) as part of a strategic initiative to enhance the efficiency of state-owned enterprises and reduce operational costs. Under this restructuring, the services previously provided by Fenaka will be integrated into STELCO, while RDC’s road construction projects will be brought under the mandate of MTCC. The President highlighted that these measures aim to rightsizing corporate structures and minimize fiscal waste.
