The Maldives Industrial Fisheries Company (MIFCO) today signed three significant agreements with China Machinery Engineering Corporation (CMEC), one of China’s largest companies, to bolster the nation’s fisheries infrastructure.

The agreements, formalized this morning at a ceremony held at the Ministry of Fisheries, are designed to significantly enhance MIFCO’s cold storage capacity and its capabilities in fish processing and export, as stated by the Ministry of Fisheries.

These Memoranda of Understanding (MOUs) encompass several key initiatives. They include the development of a state-of-the-art cold storage and blast freeze center in Thaa Atoll’s Hirilandhoo, the comprehensive expansion and completion of MIFCO’s ongoing fish purchase, chilling, and storage project in Gaafu Dhaalu Atoll’s Thinadhoo, and a substantial increase in fish purchase and storage capacity at the Addu Fisheries Complex. Additionally, a new factory will be established in Addu specifically for the processing and export of chilled skipjack tuna.

The commencement of these projects, stemming from the MOUs signed between CMEC and MIFCO, is set to sustainably develop and expand the Maldivian fisheries sector. These efforts will pave the way for increased value-added exports from the Maldives, thereby strengthening the government’s initiatives, executed through MIFCO, to ensure a robust and prosperous future for the industry.