Land Handed Over for New Fish Processing Facility in Hulhumalé

Land has been handed over for the development of a fish processing and packaging facility in Hulhumalé. 

The facility, designed to process and package yellowfin tuna. The Maldives Industrial Fisheries Company Limited (MIFCO) will develop the facility jointly with the Islamic Development Bank (IsDB) and the Maldivian government. The project was initially planned for Kanduoiygiri but was relocated to Hulhumalé after land was secured.

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ރައީސުލްޖުމްހޫރިއްޔާގެ ވަޢުދުފުޅުތަކުގެ ތެރެއިން، ކަންނެލި މަސްވެރިކަމުގެ ދާއިރާ ތަރައްޤީކުރުމަށް ހުޅުމާލޭގައި ކަނޑައަޅާފައިވާ ބިން ހައުސިންގ ޑިވެލޮޕްމަންޓް ކޯޕަރޭޝަން ލިމިޓެޑް (އެޗް.ޑީ.ސީ) އިން މިނިސްޓްރީ އޮފް ފިނޭންސް އެންޑް ޕްލޭނިންއާއި ރަސްމީކޮށް މިއަދު ޙަވާލުކޮށްފިއެވެ. މި… pic.twitter.com/2pBjnxuUPu— Ministry of Fisheries and Ocean Resources (@MFORmv) October 23, 2025

The IsDB has provided a loan for the development, which is expected to increase MIFCO’s fish processing capacity by 35 tonnes per day.

The land handover agreement was signed by the Housing Development Corporation (HDC), the Ministry of Finance and Planning, and the Ministry of Fisheries and Ocean Resources. HDC’s Managing Director, Ali Zuhair, signed on behalf of the corporation, while the Minister of State for Finance and Planning, Hussain Sham, signed for the Ministry. The agreement was signed by Minister Ahmed Shiyam for the Ministry of Fisheries and Ocean Resources.

Work on the facility is scheduled to begin this year, with completion expected next year. The project is anticipated to benefit fishermen across the country once operational.