The public transportation system “Southern Transport Link” which commenced in the southernmost atoll of Addu and Fuvahmulah island has a yearly expense of MVR 19 million but will yield profit soon, declared Maldives Ports Limited (MPL) on Monday.
MPL’s CEO Mohamed Junaid told Mihaaru that the company had invested approximately MVR 20 million to commence the services.
“We estimate that the [transportation services] will cost around MVR 19 million annually. But we’re looking into ways to earn profit as soon as possible,” he said.
Junaid revealed plans to develop a 100-bed hotel in Addu, and a slipway and restaurant in the islands of Meedhoo and Hulhudhoo in the same atoll to offset expenses. However, a location for the hotel has not yet been finalised, he said.
“The hotel will be bring major profit to the company, while this atoll is in need of an important service such a slipway. Both of them will bring in profit,” Junaid stated.
“These are not merely presumptuous talks. We planned on these projects after thorough research.”
He added that MPL is working to conduct southern transportation such that its expenses does not fall solely on MPL. He assured of their efforts to minimise current costs.
MPL had acquired 13 buses to Addu and Fuvahmulah to resume public transport in the south after the initial effort by privately owned MVK Maldives had ceased. Two of the buses were brought to Fuvahmulah with other eleven in Addu. The buses include both air conditioned and non-AC buses.