The Ministry of Construction has awarded the Maldives Transport and Contracting Company (MTCC) contracts to carry out 14 infrastructure projects across the country, with a combined value of MVR 1.67 billion.
The agreements were signed on Tuesday, with a State Minister signing on behalf of the ministry and MTCC Managing Director Ahmed Saudhy signing on behalf of the company.
Under the new contracts, MTCC will undertake a wide range of works, including the development of an artificial beach in H.A. Ihavandhoo, the second phase of road development in G.Dh. Faresmaathoda, port development in two islands, and dredging, land reclamation, and coastal protection works in several islands.
Breakdown of the awarded projects
Port development
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H.A. Muraidhoo – MVR 54.8 million
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R. Ungoofaaru – MVR 139.73 million
Beach/coastal protection
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H.A. Filladhoo – MVR 24.07 million
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N. Maafaru – MVR 63.35 million
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K. Gaafaru – MVR 64.3 million
Land reclamation & beach protection
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H.A. Vashafaru – MVR 242.65 million
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N. Henbadhoo – MVR 91.94 million
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N. Maalhendhoo – MVR 63.62 million
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N. Holhudhoo – MVR 103.28 million
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R. Alifushi – MVR 106.14 million
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Dh. Bandidhoo – MVR 221.95 million
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G.A. Kanduhulhudhoo – MVR 183.77 million
Other projects
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Artificial beach in H.A. Ihavandhoo – MVR 54.8 million
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Road development (Phase II) in G.Dh. Faresmaathoda – MVR 255.21 million
MTCC, historically one of the most profitable state‑owned enterprises, reported a significant downturn last year. According to the Privatization and Corporatization Board (PCB), the company posted a loss of MVR 19.66 million in the first quarter of last year, a sharp decline following a USD 3.8 million loss in the final quarter of 2024.