Maldives Transport and Contracting Company (MTCC) has revealed the hopper dredger purchased by the company is an important asset, adding it brings no loss to the company.
The state-owned enterprise faced criticism regarding the purchase of the dredger during the Annual General Meeting 2018. In this regard, shareholders expressed dismay for failing to disburse shares. They also noted the low revenue generated by the company, the losses the company recently faced and the purchase of the dredger for a huge sum of money.
Speaking to PSM News regarding the matter, General Manager, Construction and Project Management Ahmed Latheef refuted all comments made regarding the dredger, reassuring the advantages to the company. He said the dredger is an asset to MTCC and the country. Noting 8 reclamation projects were conducted by utilising the dredger, Latheef said 132 hectares were reclaimed from these projects.
Furthermore, Latheef added utilising hopper dredgers for reclamation projects are costly, saying the cost of the initial land reclamation projects increased more than it should as the dredgers were rented or brought from foreign countries. He assured the cost of projects have decreased significantly ever since the dredger was purchased by MTCC.
The dredger was built in Denmark and brought to Maldives in 2017, at a cost of USD 36 million. MTCC has planned to conduct land reclamation projects in Maldives and abroad with the purchase of the dredger, the largest such vessel in the region.