Maldives Transport and Contracting Company (MTCC) has revealed 53 infrastructure projects were conducted by the company across the Maldives during the first quarter of 2020.
The quarterly report of the state-owned enterprise reveals 53 infrastructure development projects, including harbour construction, land reclamation and shore protection projects, were conducted across the Maldives during the first quarter of the year. The report states site mobilisation of 11 new projects were carried out during the period, while 4 projects were successfully completed.
MTCC recorded a profit of USD 4 million in the first quarter of the year. This was a 310% increase in profits compared to the first quarter of 2019, when the company recorded a net loss of USD 1.9 million.