President Dr. Mohamed Muizzu has stated that the land leased to Horizon Fisheries in GDh. Hoandedhdhoo to build a fish factory does not generate adequate revenue for the island council, and that he will work to bring a permanent solution to the issue.
The President made these remarks while speaking at a ceremony held this morning to meet the residents of Hoandedhdhoo, during his ongoing tour of some islands in Huvadhoo Atoll.
Referring to the matters discussed during the meeting with the Hoandedhdhoo Council, the President said that the fish factory project is a long-delayed and incomplete project, and that he believes it is an issue that requires a permanent solution.
"The most perfect outcome would be the completion of the project and its benefits reaching this island and the fishing industry. In any case, the island must get the best possible benefit from that land in terms of revenue. I believe this is an issue that must have some permanent solution in the best possible way within the existing agreement," President Dr. Muizzu said.
The President noted that because the project has not commenced, the council is currently not receiving adequate revenue from the land. Therefore, he assured the council that the matter was discussed during their meeting and that it will be resolved in a way that ensures the best profit or revenue for the council and the island's residents.
"In reality, the best outcome or result would be a permanent, good solution to that project. So, I assure you that the work will proceed in that manner, and the matter will be arranged in the most beneficial way for the citizens," President Dr. Muizzu said.
Under an agreement made with the government to build a fish factory in Hoandedhdhoo—including a 3,000-tonne cold storage, a 160-tonne brine tank, and a 50-tonne plant—land was leased to Jumhooree Party leader Qasim Ibrahim's Horizon Fisheries in 2005. A 13.5-hectare plot of land was leased to the company at a rate of 15 laari per square foot per month.
Although 24 years have passed since the land was leased, the company has still not completed the facility and brought it into operation. The Hoandedhdhoo Council has expressed concern and discussed this issue with various governments. During the previous MDP administration, the then Fisheries Minister Dr. Hussain Rasheed Hassan stated regarding this issue that Horizon Fisheries would need to spend 5-6 million Rufiyaa to establish the fish factory. He noted that Horizon Fisheries had said that even if the facility was completed, the business of buying, processing, and exporting fish was not viable given the current fish prices, and he could not fathom how to force them to run an unprofitable business.
It remains unclear what efforts the current government is making to resolve this issue. A comment from Horizon Fisheries regarding this matter has not yet been obtained.
Horizon Fisheries is a company owned by Jumhooree Party leader Qasim Ibrahim. The company also operates a fish factory in L. Atoll. They buy fish from there and also sell ice to fishermen under a specific policy.
