MIFCO Partners with Chinese Firm to Boost Fish Storage and Export Capacity

The Maldives Industrial Fisheries Company (MIFCO) has signed three agreements with China Machinery Engineering Corporation (CMEC) to significantly expand the country's fisheries infrastructure and export potential. The Memoranda of Understanding (MoUs) were formalized at a ceremony held at the Ministry of Agriculture and Animal Welfare. The agreements outline concrete projects across three key locations. In Hirilandhoo, Thaa Atoll, a new cold storage and blast freezing facility will be established. Capacity for fish procurement and storage will be expanded in Thinadhoo, Gaafu Dhaalu Atoll. The partnership also includes plans to increase the procurement and storage capacity of the Addu Fisheries Complex and to establish a dedicated fish processing and export factory. The Ministry states that this collaboration with CMEC, one of China's largest companies, is aimed at supporting the sustainable development of the Maldivian fisheries sector. A core objective is to increase exports of value-added fish products, moving beyond the bulk sale of raw catch to capture greater economic benefit for the industry and the nation.