Maldives to Increase Fish Storage Capacity to Over 25,000 Tonnes by 2028, Says Minister

The Minister of Fisheries and Ocean Resources, Ahmed Shiyam, has announced plans to expand the Maldives’ fish storage capacity to over 25,000 tonnes by the end of the current government’s five-year term. 

Speaking in Parliament, yesterday, he addressed questions from members on the state of the fishing industry, emphasising that inadequate storage and collection facilities remain key challenges.

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Minister Shiyam highlighted that the Maldives’ fish storage infrastructure has not seen significant expansion in nearly five decades, noting that the main Felivaru facility has been operational for 47 years.

He reported that the nation’s current storage capacity stands at 8,500 tonnes but outlined ongoing efforts to raise this figure. He indicated that these enhancements aim to support storage for fish valued at USD 16.3 million, with an overall target of exceeding 25,000 tonnes by the end of the government’s term.

In his address, Minister Shiyam criticised the previous administration for not prioritising the expansion of the Addu City Fisheries Complex, noting that increased capacity in this region could benefit the sector.

Additionally, he announced that funding from the Islamic Development Bank (ISDB) has been secured to develop Maldives Industrial Fisheries Company (MIFCO), with plans to increase its storage capacity to 2,500 tonnes. This project, supported by a USD 70 million ISDB commitment, is scheduled to commence early next year and is expected to be completed by late 2025 or early 2026.