Maldives Transport and Contracting Company (MTCC) has completed eight projects and commenced 11 projects in the third quarter of 2022.
As per statistics publicised, MTCC undertook 112 projects in the third quarter of the year. These projects include 43 harbour construction projects, 12 land reclamation projects, 26 shore protection projects, and three airport development projects.
Moreover, MTCC successfully completed eight projects during the third quarter of the year which include Phase 2 of Harbour Development Project in Himmafushi, Kaafu Atoll, Shore Protection Projects of Meedhoo in Addu City and Rasmaadhoo in Raa Atoll, in addition to the construction of an Intensive Care Unit in Kukhudhuffushi Regional Hospital.
Meanwhile, MTCC launched 11 new projects and eight new projects were awarded to MTCC in the third quarter. As per the Quarterly Financial Report, MTCC generated a net profit of USD3 million in the third quarter of 2022, which is a 38% decrease compared to the USD5 million in net profit recorded in the second quarter. However, the net profit declined in the third quarter of the year due to the impact of major holidays in July on the company's trading segment.