Maldives Ports Limited (MPL) is aiming to achieve USD 6.5 million in revenue by the end of this year, according to its Chief Executive Officer, Mohamed Wajeeh Ibrahim. Speaking on a programme aired by state media, Wajeeh outlined the company’s recent initiatives to enhance operations and customer services, contributing to its financial growth.
Wajeeh noted that MPL’s revenue has seen a notable improvement under the current administration, with monthly earnings rising from a previous range of USD 3.9 million to USD 4.5 million. Last month, the company recorded USD 6 million in revenue and is now focusing on further growth to meet its year-end target.
A key part of this strategy includes plans to store 1,000 containers by the close of the year. Additionally, the company has launched logistics services, processing 150 containers in the past year. Wajeeh highlighted the success of these efforts, which have contributed to MPL’s expanding revenue streams.
The company has also ventured into sea-to-air cargo services, leveraging changes in the maritime sector. While this initiative may not generate substantial revenue for the broader economy, it is yielding benefits for MPL.
Further efforts to diversify include expanding the dockyard and shipyard operations, which have become important sources of income. Wajeeh emphasised MPL’s commitment to enhancing these services to strengthen the company’s financial position.
The CEO’s remarks underscore MPL’s determination to adapt to industry changes and pursue innovative solutions, positioning the company for sustained growth in the maritime and logistics sectors.
