The Maldives’ largest cold storage facility is expected to be completed and become operational by June next year, according to the Maldives Industrial Fisheries Company (MIFCO).
The 4,000-tonne cold storage facility is being developed at MIFCO’s Felivaru complex as part of efforts to strengthen the fisheries sector and expand the country’s fish processing and export capabilities.
Awarded to Rinac India Limited in 2023, the project has reached 69 per cent completion. In addition to the main cold storage facility, the project includes a 200-tonne brine freezing system and an 80-tonne refrigerated seawater (RSW) system to support efficient handling and preservation of fish.
MIFCO said installation of major machinery is currently in progress, while remaining works include the construction of a dedicated power plant and saltwater connection systems. The company stated that all remaining components are on track to be completed in time for the facility to be fully operational by June next year.
Once completed, the Felivaru facility is expected to significantly enhance the Maldives’ ability to store fish during peak fishing seasons, reducing pressure on fishermen to sell catches at lower prices. The expanded capacity is also expected to support value-added fish processing and improve export readiness by enabling the production of higher-value fish products.