Maldives Transport and Contracting Company's (MTCC) gargantuan hopper suction dredger which is expected to port Maldivian harbor by October 25, received offer Malaysia for a land reclamation project.
The company's Chief Executive Officer Ibrahim Ziyath has confirmed that a Malaysian corporation had extended offer of utilizing the mega dredger for a land reclamation project.
"We have received an inquiry from an interested Malaysian party. We are confirming the arrangement through Malaysian embassy as well. It is a deal for 50 million CBM (Cubic Meter) and we are very excited about it. We have already received two projects from Maldives," Ziyath said.
Earlier the hopper suction dredger was scheduled to port in Maldives by October 30, but the date has been brought ahead to October.
Upon reaching Maldives, the "Mahaa Jarraafu" will trek to the northern hub, Kulhudhuffushi where it will operate on a land reclamation project for the planned airport development.
MTCC confirms that under the project, Mahaa Jarraafu would reclaim an area of 8 hector (86,113 square feet) from the large clay pond and another 5 hector (53,196 square feet) portion from the shoreline adjacent to the pond would be reclaimed for the project.
The company expects the project to be completed within a 180 day duration.
Initially the dredger will be operated by expatriate workers for the first two years while local workers will receive relevant training this period to replace them afterwards.
"Currently there are three dredgers under MTCC's vessel assets. But this is the first hopper dredger added to the fleet. We are using cutter dredgers now and we have carried out two resort projects among several others," Ziyath noted.
The "Mahaa Jarraafu" boasts the capability of dredging from 50 meter underwater - with a 90 meter in length, the dredging beast could easily collect a whopping 3700 cubic meter of sand. The hopper suction dredger measures 92.95 meters in length and 16.30 meters in width.
MTCC's cheque-book registered an amount of USD 36 million dollars into the making of the dredger, with Holland's IHC taking the responsibility of crafting the vessel at China's "Nang-Ton Rainbow Marine Technology Boat Yard."
The company's CEO expects the investment will be recovered in a period of 10 years.
Following Kulhudhuffushi land reclamation project for airport development, Mahaa Jarraafu is set operate at Shaviyani atoll Fonadhoo for a similar airport development project which accounts for a total 21 hector land area being reclaimed while the project costs MVR 52.9 million.
Meanwhile MTCC had opened additional share purchase options for shareholders in order to accost the dredger's investment.
