Delegation Visits Felivaru Development Project Site

A relevant delegation has visited the site of the Felivaru Fisheries Complex (FFC) development project.

The Maldives Industrial Fisheries Company (MIFCO), which operates the facility, stated that the delegation visiting the site today included officials from the Indian Exim Bank, the Indian High Commission, and the Ministry of Fisheries. MIFCO noted that during the visit to the Felivaru upgrading project site, the delegation observed the progress of the project and held discussions with MIFCO executives and the contractor regarding the progress achieved in Component-A of the project.

To monitor the progress of this project and identify measures needed to expedite the work, a technical team from the Fisheries Ministry and India's Exim Bank also visited Felivaru on July 17 of this year.

Under the FFC further development project, a 4,000-tonne cold storage, along with a 200-tonne brine freezing facility and an 80-tonne RSW system, will be established. With the cold storage established under this $23 million project, Felivaru will be able to weigh an additional 280 tonnes of fish per day.

Once this storage is completed and brought into operation, the long journeys northern fishermen make to weigh fish at Kooddoo will come to an end, significantly reducing the fuel expenses of northern fishermen.

The work on the Felivaru factory development project was awarded to an Indian company, Rinac India Limited, on January 18, 2023. The project is funded under an $800 million line of credit from India's Exim Bank.