Author: Mohamed Reehaan
MTCC on Sunday, 04th July revealed details on Shaviyani atoll Lhaimagu harbor development project. According to the contractor, they are currently executing the dredging works which has already observed 88% completion. The project scope entails dredging and excavation operations of 31,000 cubic meters along with the construction of a breakwater, quay wall and revetment spanning 350-meters, 276-meters and 500-meters respectively. Other components include installation of a 1,380 square meter pavement along with the installation of navigation and street lights. The project total is MVR56.3 million.
Maldives Transport and Contracting Company (MTCC) on Sunday, 04th July revealed their progress of Baa atoll Fulhadhoo harbor development project. According to MTCC, the work on build and design of the harbor project at the island is currently well underway with an overall 87% progress. Moreover, MTCC on Sunday confirmed they are currently constructing the breakwater under the project, which had officially commenced on 28th June 2021. Additionally, the contractor is installing the harbor pavement as well. Scope of work for the project includes dredging operations spanning 51,861.5 cubic meters along with the construction of a 223-meter quay wall and…
The latest updates from Maldives Monetary Authority (MIRA) reveal the official reserves of the island nation, or Gross International Reserve (GIR) has reached USD926.1 million as of May 2021 end. MMA, in their latest ‘Economic Update’ revealed that the country’s reserved stood at USD878.0 million by the end of April, while the increment was observed by the time it reached May end. Moreover, this increment is an 11% growth in comparison with the corresponding period of 2020. Furthermore, this also marks the first time in recent months with such a significant improvement in the country’s reserves. Earlier, the peak in…
Maldives High Court in a recent ruling declared to include weekends in calculating the appeal period on tax related issues. Adding more to this, High Court stated the appellation period for cases concluded at Tax Appeal Tribunal earlier incorporated a 30-day period excluding all weekends. However, under the new ruling, the tax appeal period has been revised to include the weekends. Earlier, Maldives Supreme Court had revoked the provision under the Tax Appeal regulations with the 30-day appeal period, amending it to a 10-day appeal period. However, following the amendment on Tax Administration Act in 2019, the appeal period was…
Maldives Transport and Contracting Company (MTCC) on Saturday, 03rd July confirmed on their progress of Alif Dhaal Hangnaameedhoo harbor development project. According to the contractor they have commenced the construction of the breakwater along the harbor site, while they are executing dredging operations to create berthing zone for vessels within the harbor. The project scope includes dredging and excavation operations spanning 6,363.1 cubic meters along with the construction of the 204-meters long breakwater of which MTCC has commenced work. Additional components under the project include development of a 266-meter quay wall along with a 160-meter revetment. The contractor is expected…
Maldives Transport and Contracting Company (MTCC) on Thursday, 01st July revealed their progress of Isdhoo harbor development project. According to the contractor, the work on design and build of the island’s harbor has observed an overall 90% progress. MTCC had also attested on completing the concrete works for the harbor’s walkway bridge the previous day, 30 June. Meanwhile, MTCC is installing the harbor pavement which itself has observed 72% completion. The project components include dredging and excavation operations of 27,129 cubic meters along with the construction of a quay wall measuring 230 meters and a breakwater measuring 208 meters. Among…
Maldives Transport and Contracting Company (MTCC) on Thursday, 01st July, has signed on an agreement with Ministry of National Planning, Housing and Infrastructure for their latest project. According to MTCC, under the new assignment the contractor will execute the Coastal Protection Project at Haa Alif Hoarafushi Airport. The signing ceremony held on Thursday morning, was attended by the top-brass of the ministry as well as the state-owned enterprise. Chief Executive Officer of MTCC, Mr. Adam Azim signed on the agreement on behalf of the company while Ms. Fathimath Shaan Farooq, the Director General of the ministry signed on behalf of…
Maldives Transport and Contracting Company (MTCC) revealed on Thursday, 01st June 2021, on the progress of Shaviyani atoll Foakaidhoo harbor development project. According to the contractor, the development of the harbor is at ongoing status with 86% project completion. The scope of the project consists of dredging operations of the new harbor basin spanning 39,995 cubic meters and the dredging of the existing harbor basin for another 1,800 cubic meters. Additionally, MTCC will dredge the harbor channel spanning 4,000 cubic meters. Other components of the project include construction of a 507-meter breakwater, a 100-meter revetment along with the construction of…