Agreements signed with a Chinese company to further develop MIFCO's infrastructure

Agreements have been signed with a Chinese company to further develop and strengthen the infrastructure of the Maldives Industrial Fisheries Company (MIFCO).

MIFCO stated that three Memorandums of Understanding (MoUs) were signed today with the China Machinery Engineering Corporation (CMEC), one of the largest companies in China, to work together with the aim of increasing the company's cold storage and fish processing and export capacity.

According to MIFCO, under these MoUs, a cold storage and blast freezing facility will be developed in Th. Hirilandhoo, and the ongoing project initiated by MIFCO in GDh. Thinadhoo to purchase, chill, and store fish will be further completed and expanded. Additionally, along with expanding the capacity to purchase and store fish at the Addu Fisheries Complex, work will be carried out to establish a factory in Addu to process and export chilled yellowfin tuna.

MIFCO noted that the work initiated following the signing of these three MoUs today will further strengthen the government's efforts through MIFCO to sustainably develop and expand the Maldives' fisheries sector and facilitate value-added exports from the country.

The MoU signing ceremony held today at the Fisheries Ministry was attended by senior officials from the Ministry, MIFCO, and CMEC who are visiting the Maldives.