Felivaru

MIFCO Initiates Design Work for New Fish Canning Factory in Felivaru

MIFCO hired a Chinese firm to design a new fish canning factory on Felivaru Island, Lhaviyani Atoll. The factory, costing US$40 million and processing 100 tonnes daily, is to be completed before end of 2026. Simultaneously, a cold storage facility expansion by Indian firm Rinac India Ltd, with MVR 20 million investment funded by an $800 million line of credit from the Indian Export-Import Bank, will increase capacity. Land reclamation of 5 hectares started in 2020 under the previous administration.