The Maldives Industrial Fisheries Company (MIFCO) has assigned a Chinese firm to design the proposed fish canning factory on Felivaru Island, located in the Lhaviyani Atoll. The new facility, which is designed to process 100 metric tonnes of fish daily, will be constructed within the Felivaru Fisheries Complex, the company’s primary production hub.

MIFCO revealed that the cannery, a key component of the Felivaru Fisheries Complex expansion project, will require an estimated investment of approximately US$ 40 million.

MIFCO aims to enhance its operational efficiency and production capabilities with the new project, which is scheduled for completion before the end of 2026, according to the state-owned company. The automated facility, equipped with specialised machinery for canning, labeling, and storage, is expected to increase MIFCO’s daily processing capacity to 150 metric tonnes.

At the same time, progress is being made on a cold storage facility on Felivaru Island, contracted to the Indian firm Rinac India Ltd. This cold storage expansion project, facilitated by an MVR 20 million investment, will increase MIFCO’s fish purchasing capacity by 280 metric tonnes per day. The project includes establishing a 4,000 metric ton cold storage capacity, a 200 metric ton brine freezing system, and an 80 metric ton RSW system.

The cold storage project, funded through an $800 million line of credit from the Indian Export-Import Bank, aims to enhance MIFCO’s infrastructure and reduce fuel costs for local fishermen, according to Mohamed Shameem, MIFCO’s engineering and project manager.

Under the Felivaru Fisheries Complex expansion project, initiated by the previous administration, five hectares of land from the lagoon of Felivaru Island have been reclaimed to facilitate development. The land reclamation efforts began in 2020. A key goal in the development plan crafted by the Ibrahim Mohamed Solih administration was to increase the cold storage capacity to 4,000 metric tonnes.

Felivaru Fisheries Complex was established in 1976.