As the Maldives prepares for the onset of its peak fishing season in September, the Maldives Industrial Fisheries Company (MIFCO), in coordination with the national government, is undertaking a comprehensive expansion of fisheries infrastructure. The initiative seeks to address longstanding logistical constraints faced by fishermen and to improve the international market value of Maldivian fish exports.
Central to the effort is a plan to triple the country’s cold storage capacity to 25,000 metric tonnes. Government officials have described the expansion as essential to securing better prices for fish exports and reducing the volume of raw fish sold abroad. Currently, approximately 65 percent of the national catch is exported in unprocessed form.
MIFCO has stated that preparations are underway to enhance operational readiness across its fisheries centres. At the Kooddoo Fisheries Complex, infrastructure works include repairs to harbour roads and upgrades to the local production facility. The company is also conducting mechanical overhauls on its fleet of fish-purchasing vessels, ensuring engines and onboard machinery are fully operational ahead of the season.
Drawing on catch data from the previous year, MIFCO is assessing regions expected to yield the highest volumes and is preparing to establish purchasing operations accordingly. Fish collection vessels are scheduled to operate in Raa Atoll and Baa Atoll.
In a logistical shift, the company is preparing to initiate direct fish exports from Addu Atoll, replacing the current practice of transporting fish to Huvadhu Atoll, comprising Gaafu Alifu and Gaafu Dhaalu, for export. Plans to commence value addition activities in Addu are also underway, which MIFCO anticipates will strengthen operations at Kooddoo and reduce the need for double container handling.
A cornerstone of the national strategy is the expansion of cold storage infrastructure. In November 2024, Global Projects was awarded the contract to construct a new 4,000-tonne facility in Kooddoo. Once operational, the site’s total storage capacity will increase from 2,000 to 6,000 metric tonnes.
Nationally, the Maldives currently maintains 8,500 tonnes of cold storage capacity. The Ministry of Fisheries and Ocean Resources has outlined a plan to raise this figure to 25,000 tonnes, building on a presidential pledge to double existing capacity. To meet this target, the government intends to add 15,500 tonnes within the current term. Ministry officials have highlighted that inadequate storage has historically constrained the country’s ability to secure competitive prices for its fish exports.