The Maldives Transport and Contracting Company (MTCC) is progressing with its plans to build a dry docking facility which will be used for the repair and servicing of large vessels, including its trailing suction hopper dredger Mahaa Jarraafu.
The objective of the project is to broaden the range of MTCC’s sources of revenue and to cut back on the amount of foreign currency spent on the maintenance of vessels overseas.
Ahmed Saudi, Director of the MTCC, told state media that the government has approved the project and that the company expects to secure the necessary land or space by the end of this month. The physical work is expected to start once the site has been confirmed.
Although MTCC at Thilafushi currently offers vessel repair services, limited space has prevented it from handling larger vessels and making substantial investments in the sector.
Saudi stated that ships such as the Mahaa Jarraafu, which are internationally registered and classed, must have periodic maintenance carried out overseas, leading to considerable foreign exchange costs.
The new dry dock, being developed under a plan agreed with the government, is expected to create additional revenue and business opportunities while reducing the foreign currency costs of sending vessels overseas for maintenance.
The wider plan also includes a transshipment port and bunkering facility, which MTCC said would complement the dry dock and strengthen its overall maritime services.
