MTCC to purchase US$36 million dredger

The Maldives Transport and Contracting Company (MTCC) has revealed plans to purchase a US$36 million land reclamation dredger, reports local media. According to Vnews, the purchase of the dredger would make it the biggest and most expensive to be operated locally in the Maldives. MTCC CEO Ibrahim Abdul Razzaq told Vnews that the dredger is … Continue reading MTCC to purchase US$36 million dredger

MIFCO denies reducing staff allowances, ACC investigates fraudulent US$1 million transaction

MIFCO admits need to “synchronise” staff allowances of recently merged Kooddoo and Felivaru Fisheries, while the Anti-Corruption Commission investigates US$1 million paid into an incorrect bank account by a Thai firm.

Government seeks US$20 million in donations to repair Malé’s desalination plant

The President’s Office has assured that supplies of water are sufficient, though the provision of 24 hour running water to every house in the capital will be impossible until the desalination plant is fully repaired.

Changi signs consultancy deal as MACL aims for 9.6 million passengers

During a signing ceremony held this morning Maldives Airport Company Ltd Managing Director Ibrahim ‘Bandu’ Saleem revealed that the new masterplan envisioned 9.6 million passengers using the airport by 2030.

GMR lodges US$803million claim, pleads for award of further damages for loss of reputation

GMR has lodged a claim worth US$803million for damages caused by the Maldives government’s abrupt and wrongful termination of an airport development contract, and made a plea for award of further damages for loss of reputation.

President Yameen launches MVR200 million ‘Maldives Youth Entrepreneurship Programme’

“Two individuals may jointly apply ‎for loans to start up their businesses under this scheme,” the President’s Office explained, with recipients granted soft loans and technical ‎assistance through business incubation programmes.

Government ordered to pay MVR349 million in damages for terminated transport contract

The Civil Court has ordered the Maldives government to pay MVR348,995,154.60 (US$22.5 million) to Dheebaja Investment Pvt Ltd within six months for the abrupt and unlawful termination of a contract to establish ferry services in four northern atolls.

Tourism Minister implicated in US$6million corruption scandal

Ahmed Adeeb is implicated in obtaining US$6million from state owned companies and transferring the funds to two private companies, including one owned by his father. The damning audit report comes a day after PPM amended laws to reappoint the Auditor General.