Business

MTCC’;s mountainous dredger to arrive in Maldives this week

MTCC Press conference held on OCt 22

The Maldives Transport and Contracting Company (MTCC)’s Chief Executive Officer Ibrahim Ziyath has said that its mountainous dredger, commissioned by President Abdulla Yameen, will dock at Haa Dhaalu Kulhudhuffushi on the 25th of this month.

At a press conference held at MTCC’s head office on Sunday, Ziyath said that the ‘Mahaa Jarraafu’ was crafted within a 15-month period and that its first project will be the reclamation of the Kulhudhuffushi island harbour. He added that President Abdulla Yameen will head to Kulhudhuffushi to inaugurate the “Mahaa Jarraafu” once it arrives there.

“We have signed a second project for ‘Mahaa jarraafu’ with Maldives Regional Airport for shore protection and reclamation of Shaviyani Funadhoo and it will take 150 days to complete the project” said Ziyath.

Ziyath further said that MTCC will try to complete both projects at the same time.

While the company opened up the opportunity to buy shares on the 19th of this month, Ziyath said that shareholders who have registered to buy shares from the company “are elderly people“.

MTCC has said that they will be visiting different islands to provide information to people about buying shares via its rights issue. In regard to this, Ziyath said that a team will be visiting to Kulhudhuffushi later this week.

Also at Sunday’s press conference, MTCC’s Chief Financial Officer Mohamed Hilmy highlighted that they have received good support from the public in registering to buy shares.

The MTCC has revealed its hope that the dredger will be used for projects outside the country, while significantly slashing expenses for reclamation projects conducted within the country.

Full details are available from the link below:

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