115 projects carried out by MTCC in second quarter

Maldives Transport and Contracting Company (MTCC) worked on 115 projects during the second quarter of this year, statistics have shown.

The information was published in the MTCC's financial report for the second quarter of the current year.

The number of projects carried out by MTCC in the second quarter is seven projects more compared to the first quarter. MTCC carried out 108 projects in the first quarter.

The second quarter projects included 42 port construction projects, 25 shore protection projects, 11 dredging and beach protection projects, eight building construction projects, seven road construction projects, four port development projects, three bridge and causeway construction projects and three airport projects. The projects also include a water and sewerage project and a jetty construction project.

According to the financial report, MTCC completed ten projects in the second quarter of this year. These projects were carried out in R. Angolhitheemu, R. Dhuvaafaru, Aa. Ukulhas, K. Girifushi, K. Dhoonidhoo, Th. Guraidhoo, V. Fulidhoo, V. Rakeedhoo, K. Kudagiri and Nakacchaa Huraa.

MTCC was awarded 13 new projects during the second quarter, while work on 12 projects was commenced during the last three months.

MTCC posted a revenue of MVR 593 million in the second quarter of this year. This is an increase of 7.7 percent compared to MVR 550 million generated in the first quarter. MTCC expects to post revenue of nearly MVR 2 billion by the end of this year.

MTCC posted an operating profit of MVR 93 million and a net profit of MVR 77 million in the second quarter.