Maldives Ports Limited (MPL) is targeting a revenue of USD 6.5 million by the end of 2024, according to the company’s Chief Executive Officer (CEO), Mohamed Wajeeh Ibrahim. In a recent interview on PSM News, Wajeeh shared the company’s strategic goals following the management takeover, with a clear focus on improving operational efficiency and enhancing customer services.
Wajeeh explained that MPL’s revenue has already shown a significant increase compared to previous years. Monthly revenues previously ranged between USD 3.9 million and USD 4.5 million, but under the current administration, the company reached USD 6 million in October. With the year-end target set at USD 6.5 million, MPL is on track to achieve its financial goals.
One of the key initiatives contributing to this growth is the plan to store 1,000 containers by year-end. Additionally, the company has expanded its banking services to support the evolving needs of the maritime sector. While these changes may not yield immediate large-scale revenue, the launch of a sea-to-air cargo service has already started to generate positive results for MPL.
In terms of logistics, Wajeeh revealed that MPL has processed 150 containers over the past year, further demonstrating the company’s increasing role in the supply chain.
The CEO also highlighted the significant revenue from MPL’s dockyard and shipyard operations, with plans underway to expand these services and contribute to the company’s ongoing success.
With these efforts in place, MPL is well-positioned to reach its revenue target, reinforcing its position as a key player in the Maldives’ maritime and logistics sectors.
