Ibrahim Abdul Razzaq Haleem
Managing Director of Maldives Road Development Corporation
Transport / Maldives
“MRDC has been awarded public projects worth $13 million”
In 2012, the Maldives Road Development Corporation (MRDC) was far from being in working order. Ledgers were mismanaged, relationships with materials vendors were poor and sales volumes were minuscule. After new management was installed, however, tremendous work has been undertaken to reform and kick-start big-ticket projects. MRDC’s recently appointed Managing Director Ibrahim Abdul Razzaq Haleem explains how President Yameen has given the state-run company a new lease on life.
How is the government supporting MRDC’s reformation?
President Yameen has launched a strategy to revitalize MRDC, mainly focusing on financial empowerment through a larger budget and the provision of more technologically advanced facilities. This year, MRDC has been awarded public projects worth $13 million, which will greatly support our expansion efforts.
How has President Yameen’s strategy impacted sales?
In 2012, total brick sales averaged $26,000 a month. But today, monthly sales are $260,000. MRDC has a monopoly on construction bricks production, but only now is this potential being fully realized, allowing us to invest in new machinery to boost our production rate, which we hope to double in the coming years.
What are MRDC’s on-going projects?
MRDC is currently managing 40 different infrastructure projects valued at $65 million. These projects include the development of roads and highways on 14 islands measuring about 60 kilometres. We are also supplying construction bricks and precast items for the development of the road network within the international airport.
What future projects are being planned out now?
As most of the island’s harbor projects have been complete and modernized road systems are currently being built, we are looking to construct new sectors of instructure.
What new fields would MRDC move into?
Supported by President Yameen’s development vision, MRDC is broadening its mandate to move into construction in fields such as water and sewage, housing development, waste-management and landscaping projects. This opens up new gateways to GCC companies who are looking to form joint ventures with MRDC and benefit from long-term repayment plans and low-interest contracts.
