MIFCO Sets Sights on Restoring Kandu Oiy Giri as Key Manufacturing Hub

The Chief Executive Officer and Managing Director of MIFCO, Farhath Shaheer, has announced plans to revitalize Kandu Oiy Giri as a 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 emphasized that this initiative is just the beginning, with plans to establish a cold storage unit along with ice and fuel supply services for fishermen, enhancing 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.