Maldives Industrial Fisheries Company Limited (MIFCO) has stated that the temporary relocation of its operations in Kanduoiy-giri Island to Felivaru Island, following the cabinet’s decision to handover the island to Maldives National Defence Force (MNDF)will be completed by October.
MIFCO disclosed that the relocation of its Kanduoiy-giri facility to Felivaru will be completed within the next five days. The company also added that the facility will be operational by October. Noting that work is ongoing to relocate its facilities to Felivaru, MIFCO noted that more time may be needed as it is loading heavy equipment. MIFCO disclosed that discussions are underway with MNDF to seek an extension to the due date given to vacate the premises by September 15.
Kanduoiy-giri was the hub of MIFCO's lifestyle products, such as pre-made food made available by the company. The island was also used to weigh yellowfin tunas and skipjack tunas caught by the fishermen. MIFCO also provided ice to the fishermen from the island.
Following the decision to relocate the facility, the Cabinet of Ministers made the decision that the Housing Development Corporation (HDC) should allocate suitable land from Hulhumale’ for MIFCO to carry out its Kanduoiy-giri operations. MIFCO notes that discussions on the acquisition of a suitable land is ongoing with HDC.
MIFCO states that the company aims to take advantage of the investment opportunities available and restore the services on a large scale by acquiring suitable land in Hulhumale’ as soon as possible. It notes that a land is important to make use of the planned investment of USD eight million under the Saudi fund and the Islamic Development Bank (ISDB) fund.