Maldives Transport and Contracting Company's (MTCC) financial reports have indicated the company's machinery and equipment acquisition expenses had reached MVR 454 million in 2017.
According to MTCC's financial reports the company took long-term loans in order to procure necessary equipment and machinery for its operations including land vehicles. By the end of 2017's fiscal run, MTCC had successfully managed to repay MVR 43 million for the loans acquired.
The transport and contracting company had made several high-profile management decisions including the acquisition of a 90 meter gigantic hopper suction dredger for an investment of MVR 538 million.
MTCC had also established a shipping dockyard at Thilafushi worth MVR 48 million in order to provide servicing and repairing of about 3,847 vessels operating in Male' region as well as 219 other sea vessels.
The Maldives Shipping Limited, state government and public shareholder corporation made an income of MVR 1.2 billion from all of its businesses last year with a profit after tax reaching MVR 145.3 million.
