The prequalification process for the project to establish a new fish processing factory and a cold storage facility at Lh. Felivaru has commenced today.
This project is being carried out with financial assistance from India’s Export-Import Bank – which will see the establishment of an additional 4000 MT cold storage facility, a 200 MT brine freezing facility, an 80 MT refrigerated seawater facility, as well as 100 MT fish processing factory, at Felivaru.
In addition to this, a pouch closing facility, fish mill, an ice plant – as well as all other facilities and equipment necessary for the operations will be established under the project.
Moreover, a 50-ton ice plant will also be established at GA. Gemanafushi under the same project.
According to MIFCO, one of the main difficulties faced by the local fishermen are the limited processing capacity available in the Maldives, forcing most of the catch to be exported as frozen tuna which reduces the income generated from fishing.
Hence, MIFCO noted that this project is aimed at increasing its processing capacity by more than two-fold. It will also increase the storage capacity at Felivaru Fisheries Complex – which will allow MIFCO to purchase a larger number of catches from local fishing vessels.
The 4000 MT cold storage facility will ease the difficulties faced currently faced in the freezing fish – and the storage of frozen fish.
In addition to this, they noted that following the completion of the project – the revenue earned by local fishermen and MIFCO will increase significantly – which will also positively impact the country’s economy.