The state-owned Maldives Industrial Fisheries Company (MIFCO) has announced that the country’s largest cold storage facility, currently under construction at Felivaru, Lhaviyani Atoll will be completed and operational by June 2026.
The 4,000-tonne cold storage project, awarded to Rinac India Limited in January, is part of MIFCO’s broader efforts to modernise and expand the nation’s fisheries industry.
According to MIFCO, 69 percent of the work—including the cold storage, 200-tonne brine freezing, and 80-tonne RSW (refrigerated seawater) systems—has already been completed. Machinery installation is currently underway, with remaining tasks including power plant setup and saltwater connections. Once operational, the facility will significantly enhance fish storage and export capacity during peak fishing seasons, helping Maldives secure better prices in the global market.
Additionally, fish processing plants are being developed to enable higher-value exports. The government has already dredged 5.7 hectares of land in Felivaru and completed three jetties—for general use, fish handling, and international exports. As the most extensive fisheries facility in the Maldives, Felivaru’s development is expected to drive major growth in the industry, reinforcing the nation’s status as a key player in the global seafood market.