New Fish Processing Factory and Ice Storage Factory to Be Built in Lh. Felivaru with EXIM Bank Loan

The prequalification process of the project of building a fish processing factory and cold storage in Lh. Felivaru with the loan assistance of EXIM bank in India has started. This project consists of building a 4000-tonne cold storage in Lh. Felivaru along with the capability to process 100 tonnes of fish per day and the resources to package tuna.

In addition to this, a fish freezing facility, refrigerated sea-water facility, fish meal plant, and an ice plant will be built in Lh. Felivaru. Along with these facilities, there will be one more ice plant of 50-tonne capacity built in GA. Gemanafushi under this project.

- Advertisement -

One of the biggest obstacles being faced by the Maldives fisheries industries right now is the decreased income from exporting frozen fish. Therefore, the best solution for this right now is to increase the exports of processed fish. This project will increase MIFCO’s fish processing capacity.

The government also pays attention to how fishermen can conveniently weigh their catch. Most importantly, the government believes that during peak days or seasons, fishermen should be able to weigh their catch without facing many difficulties. To ensure that fishermen’s have these resources the government is focusing on providing the resources to do so as this will help to boost this industry. To achieve this, the most important thing is to increase the number of fish freezing and increase the fish storage capacity.

This project will bring improvements to fishermen’s lives, the fishing industry, MIFCO, and the country’s economy. This is also part of the current government’s promises, and this project will be a step forward to bring advancements to the fishing industry of Maldives.

- Advertisement -