The Chief Executive Officer and Managing Director of MIFCO, Farhath Shaheer, has announced the revitalisation of 'Kandu Oiy Giri' as the central hub for the production of common commodities and seafood processing.
Speaking to PSM News following the company’s resumption of operations, Farhath revealed that MIFCO has restarted purchasing yellowfin tuna from local fishermen, offering USD 1.62 per kilogram for catches exceeding 15 kg.
The four-hectare facility, once MIFCO’s primary site for lifestyle and ready-to-eat products, has been officially handed over to the state-owned firm, marking a major step in its redevelopment.
Farhath emphasised that this initiative is just the beginning, with plans to establish a cold storage unit in Kandu Oiy Giri along with the supply ice and fuel to fishermen, improving post-harvest handling. In the coming phase, the site is set to become a central processing hub for fish, supporting domestic distribution and export operations.
This revival aligns with broader plans to develop a 25,000-sqft fish processing facility in Hulhumale’, funded by the Islamic Development Bank, expected to commence development within this month.