Minister of Fisheries Agriculture and Ocean Resources Ahmed Shiyam and the High Commissioner of India to the Maldives, His Excellency G. Balasubramanian carried out a high-level joint review yesterday of the Felivaru Fisheries Development Project, assessing on-ground progress and coordinating efforts to ensure the landmark facility is completed on schedule. The inspection was accompanied by comprehensive discussions between the Ministry of Fisheries Agriculture and Ocean Resources, contractor Rinac India Limited, the project management consultant (PMC), and the Maldives Industrial Fisheries Company (MIFCO) to resolve operational bottlenecks and streamline delivery timelines.
Following the review, none of the participating stakeholders have publicly revealed the latest status or specific progress updates from the meeting. However, speaking in Parliament recently, Minister Shiyam noted that the Ministry and MIFCO have actively collaborated to provide crucial logistical support to the contractor to address on-ground challenges. To accommodate these operational adjustments, the contractor's project timeline has been extended until the end of November, with the government aiming to complete the facility and make it operational for local fishermen before December.
The USD 23 million initiative is financed under a concessional Line of Credit (LOC) from the EXIM Bank of India, reflecting the enduring bilateral development partnership between the Maldives and India. The formal contract was awarded to Rinac India Limited on January 18, 2023, during an official ceremony in HDh. Hanimaadhoo held on the sidelines of the official visit to the Maldives by Indian External Affairs Minister Dr. Subrahmanyam Jaishankar.
Managed under MIFCO and situated on 5.7 hectares of reclaimed land in Lh. Felivaru, the development represents the largest cold storage and processing upgrade ever undertaken in the country. The comprehensive scope of work includes the construction of a 4,000-ton cold storage complex to significantly increase fish holding capacity and minimize vessel queuing times during peak fishing seasons, alongside a 200-tonne per day brine freezing facility supported by an 80-ton refrigerated seawater (RSW) system.
Additionally, the project encompasses an advanced 100-ton tuna processing factory, a 40-ton fishmeal plant to process offal into commercial by-products, and purpose-built export, catch-weighing, and public jetties to streamline harbour operations. Once fully operational, the upgraded Felivaru complex will serve as the industrial anchor for northern fisheries, substantially increasing processing output, expanding high-value exports, and reinforcing the economic welfare of the local fishing community.
