Discussions have been held on expediting the project to expand the cold storage capacity of the Felivaru Fisheries Complex (FFC).
The Maldives Industrial Fisheries Company (MIFCO), which operates FFC, stated that the company's CEO Dr. Vitaly Lyubimof and the management team held a consultative meeting with the contractor of the Felivaru development project, India's Rinac India Limited. MIFCO said that during this meeting, discussions were held on ways to successfully carry out and complete the work in accordance with the timelines set for the various stages of the project.
The work for the FFC development project was awarded to Rinac on January 18, 2023. It has been decided to spend USD 22 million on this project, which is funded under the USD 800 million line of credit provided to the Maldives by India's Exim Bank. Under this project, in addition to establishing a 4,000-tonne cold storage at FFC, a 200-tonne brine freezing facility and an 80-tonne RSW system will be established, according to MIFCO.
Once this project is completed and operations begin, FFC will have the capacity to weigh an additional 280 tonnes of fish per day, giving fishermen the assurance that their daily catch can be weighed on the same day. Furthermore, due to this project, the long journeys undertaken by northern fishermen to weigh fish in Kooddoo will come to an end, significantly reducing the fuel expenses for northern fishermen.
