MTCC Celebrates 40 Years of Service

MTCC Celebrates 40 Years of Service

Dec 22, 2020

Maldives Transport & Contracting Company (MTCC) celebrated its 40th-anniversary on 18th of December. The state transport company was first established in 1980 as the first public company in the Maldives. They are the longest-serving public listed company in the country. MTCC is now the leading marine and land transport provider and civil and marine constructor.

 

President Ibrahim Mohamed Solih congratulated MTCC on its ‘most successful year’ in the face of the difficulties posed by the ongoing Covid-19 pandemic. MTCC was established for the purpose of providing the people with immediate and efficient access to services that serve fundamental needs, said the President.

 

“The fact that the company earned over MVR 140 million in revenue before taxes,” said President Solih, “whilst withstanding the many challenges of operating during the time of COVID19, serves as evidence to the company’s financial competence and stability”.

 

The president then reassured that the modernisation of seafaring and ferrying would be one of his government’s highest priorities in 2021 and hinted towards a bigger project coming up in the next year. He further added that discussions were set to commence between MTCC and the Ministry of Planning and Infrastructure in the near future.

 

Despite the lockdown, MTCC earned a profit of MVR 140 million within the first three quarters of 2020. Moreover, its CEO Adam Azim said that they will end the year with a total profit of MVR 200 million.

 

In addition to planning and executive nationwide projects, MTCC is also the importer of name-brand marine and transport-related companies such as Suzuki Marine, Yanmar, Castrol, and PPG Protective & Marine Coatings.