Maldives’ largest cold storage facility is scheduled to be completed and become operational in 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 to strengthen the fisheries sector and expand national fish processing and export capacity.

The project, which was awarded to Rinac India Limited in 2023, has made significant progress. As of now, 69 per cent of the work on the cold storage facility has been completed. The project also includes a 200-tonne brine freezing system and an 80-tonne refrigerated seawater (RSW) system.

MIFCO stated that the installation of key machinery is currently underway. Remaining works include the construction of a power plant and saltwater connection systems. All outstanding components are expected to be completed in time for the facility to be fully operational by June next year.

Once completed, the Felivaru cold storage facility will significantly increase the country’s capacity to store fish during peak fishing seasons, improving export readiness and reducing pressure to sell catches at lower prices. The expanded storage capacity is also expected to support the development of value-added fish processing, enabling the export of higher-priced fish products.