Maldives Transport and Contracting Company (MTCC) reveals 8 development projects are currently on hold from the 20 projects handed over to the company.
MTCC is one company which conducts the most number of development projects initiated by the government.
Speaking to media, Assistant General Manager at MTCC's Construction Project Management Ahmed Latheef said the projects are currently on hold for various reasons, adding most number of projects are on halt due to the public's request to change the designs of the projects MTCC stated it is mostly contracted with harbour development and beach protection projects.
Moreover, CEO Hassan Shah revealed the debt of MTCC amounting to USD 45.315 million can be paid within about 10 years. Shah assured the loans will be paid back by MTCC, rather than attaining funds from the government. In this regard, he revealed USD 2 million was paid for different entities so far this month.