The Government of Maldives has officially granted permission to the Maldives Transport and Contracting Company (MTCC) to establish a state-of-the-art dry docking facility capable of servicing large-scale vessels, such as the “Mahaa Jarraafu.” Physical work on the project is scheduled to commence as soon as the required land is allocated later this month.
The establishment of this facility is expected to significantly reduce the substantial foreign exchange outflow currently spent on docking and servicing large vessels abroad, thereby retaining more foreign currency within the domestic economy. Furthermore, this initiative aligns with broader strategic goals to integrate transshipment port operations and bunkering services, marking a pivotal step in diversifying the company’s revenue streams and expanding its commercial footprint.
Additionally, the new facility is designed to alleviate the prevailing space constraints at Thilafushi, leading to more streamlined and efficient maritime engineering services.
