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MIFCO Initiates Major Expansion with New Fish Purchasing Facility in Fuvahmulah

The Maldives Industrial Fisheries Company Limited (MIFCO) has officially begun buying fish from the port of Fuvahmulah City, marking a significant step in the company's efforts to expand operations and bolster the local fishing industry.

The initiative, announced by MIFCO CEO Brigadier General (Retired) Farhath Shaheer, is part of a broader strategy to make fishing more profitable and sustainable for Maldivian fishermen.

The official launch of purchasing operations in Fuvahmulah occurred on Saturday, with the MIFCO vessel "Ran’dhi 19" purchasing fish at the harbour. The vessel, which has a capacity of 36 metric tonnes, has been permanently stationed in the area to provide continuous purchasing services for fishermen, marking a welcome development for the region, which is renowned for its rich fishing grounds.

In addition to the new purchasing arrangement, MIFCO has started construction on a new fish processing facility in Fuvahmulah. The facility is scheduled for completion by the end of the year and will allow for the production and safe packaging of fish products, which will then be supplied locally. This infrastructure development is expected to add value to the local catch and improve product availability for residents.

The Fuvahmulah initiative is just one part of a nationwide expansion by MIFCO. Other key developments include:

Felivaru Cannery repairs: Urgent repair and maintenance work at the Felivaru Cannery has already started.
Kooddoo Fisheries Complex upgrades: Plans are in motion to upgrade the Kooddoo Fisheries Complex by repairing harbour roads and enhancing the local production factory.
Addu City exports: MIFCO also plans to begin direct fish exports from Addu City, bypassing the need to transport catches to Huvadhoo Atoll.
Thinadhoo fish purchase center: A new fish purchase center is scheduled to open in Thinadhoo, Gaafu Dhaalu Atoll, by the end of 2026.
Expanded tuna purchasing: Preparations are underway to begin purchasing yellowfin tuna from both the northern and southern regions of the country later this year.

MIFCO’s strategic expansion aims to overcome long-standing challenges faced by fishermen, including inadequate cold storage and processing facilities. By increasing purchasing capacity and improving infrastructure, the company seeks to enhance the profitability and sustainability of the Maldivian fishing industry.