Maldives Transport and Contracting Company (MTCC)'s CEO Abdulla Ziyad has said the company aims to commence boat-building services to expand its business.

Replying to a shareholder's question on MTCC's efforts to expand its business at its Annual General Meeting (AGM) held at The Umar Zahir Building last night, Ziyad said that efforts are being made to take the planned activities to the next level for the development of MTCC. He said the company was planning to expand business in the boating sector.

"And the shipping repair yard has been completed in full swing and hopefully the company will become a boat-building company by the time the next AGM arrives," Ziyad said.

MTCC has a boatyard at Thilafushi, which is one of the largest docking service providers in the Maldives, which can dock 20 vessels of different sizes at a time.

Replying to questions from shareholders at the meeting, MTCC Chairperson Mohammad Afeef Hussain said the company was considering prioritising foreign and private sector projects to boost its revenues, which would also reduce its dependence on government projects.

"There is already a lot that can be done in that target and some projects are being worked out so that the company can generate revenue from foreign exchange," Afeef said.

He also said that the company's board has given special priority to the work so that MTCC revenue increases.