The Managing Director of Maldives Transport and Contracting Company (MTCC), Ahmed Saudi, has stated that a completely new policy has been formulated to complete the projects assigned to MTCC within the specified timeframe. Ahmed Saudi said this while responding to a question from a shareholder at the company’s Annual General Meeting held at Nasandhura Baraza.
MTCC is a company that carries out numerous infrastructure development projects in the islands of Maldives. According to statistics, MTCC carried out work on 187 projects last year.
Responding to a question from a shareholder regarding the delay in completing MTCC projects, the company’s Managing Director Ahmed Saudi provided a detailed answer. Saudi said that as of May 23 this year, approximately 800 million rufiyaa worth of machinery has been purchased as capital investment. He also said that priority is being given to paying for these items in a way that does not default on loans.
Saudi said that due to having to repay loans, the progress of projects has decreased because of the inability to spend the required amount on projects. “After paying the loans, we have about 8 million rufiyaa left from the income to run the projects. So that’s not enough value for the materials or other costs needed when handling 187 projects at once. So now it’s set to increase that amount,” said MTCC’s Managing Director Ahmed Saudi.
In addition, Saudi noted that while many more projects have been assigned to the company, they are pursuing a policy of outsourcing the work of these projects to other parties.
“Then, if there’s an opportunity based on how they’ve made the contract, we’re now working to complete the work segment-wise through parties that have the capability to do it, if there are such parties. For example, even if it’s laying stones and cementing, we’re looking at projects that can be given out like that and pursuing a policy of completing them on time by assigning them to those parties,” said MTCC’s Managing Director Ahmed Saudi.
Saudi said that this change is an important step towards expediting MTCC’s work and utilizing the company’s resources in the most beneficial way. He also expressed hope that this will allow the company to complete the projects it has received quickly and improve the quality of service, according to MTCC’s Managing Director Ahmed Saudi. Ahmed Saudi.
