Maldives Transport and Contracting Company (MTCC) has revealed it is currently conducting 37 infrastructure projects throughout the country.
Speaking at a news conference, CEO Adam Azim said MTCC is ready to begin 49 additional projects, of which around 10 or 11 will be commenced the coming week. With the additional 11 projects, MTCC will be working on 47 projects in total in March.
Azim said the company has been unable to begin some projects as Environmental Impact Assessment (EIA) of some projects are pending. He added the projects will begin once the EIA is completed.
CEO Azim highlighted MTCC is faced with various challenges in the line of work. While some machinery it uses are old or broken, MTCC constantly works on auditing and identifying necessary spare parts. Once the machinery is repaired and available, MTCC said it will be able to show a difference, both financially and in conducting projects.
While the state-owned company is working to speed up the projects it is running, the financial statements of the year 2019 showed a 15.4% decrease in profits it made as compared to the year 2018.