Land has been handed over for the development of a fish processing and packaging facility in Hulhumale’.
The facility, designed for the processing and packaging of yellowfin tuna, is part of the government's efforts to develop the country’s fishing industry.
The Maldives Industrial Fisheries Company Limited (MIFCO)’s fish processing facility is being developed jointly by the Islamic Development Bank (IsDB) and the Maldivian government. The facility was previously planned to be developed in Kanduoiygiri, but the government later decided to relocate it to Hulhumale’ after land was secured in Hulhumale’.
The IsDB has provided a loan for the development of the facility, which is expected to increase MIFCO’s fish processing capacity by 35 tonnes of fish per day.
The agreement for the land handover was signed between the Housing Development Corporation (HDC), the Ministry of Finance and Planning, and the Ministry of Fisheries and Ocean Resources. HDC’s Managing Director, Ali Zuhair signed on behalf of the corporation while the Minister of State for Finance and Planning, Hussain Sham signed on behalf of the Ministry. The agreement was signed by Minister Ahmed Shiyam on behalf of the Ministry of Fisheries and Ocean Resources.
Speaking about the project, Minister Shiyam said the work on the facility will begin this year, with completion expected next year. Fishermen will benefit from the project soon, he said.