The project to increase the capacity of the Kooddoo Fisheries Complex will commence in the near future, Minister of Fisheries and Ocean Resources, Ahmed Shiyam said Monday.
Lucky Global Projects Pvt Ltd was awarded the project in November last year, which will be funded by the Saudi Fund for Development.
Speaking to PSM News Minister Shiyam who is part of the high-level delegation accompanying President Dr Mohamed Muizzu on his three-day tour of nine islands of Huvadhu Atoll said the President has been fulfilling his presidential pledges to local fishermen since taking office.
The Minister highlighted as the President promised, local fishermen are receiving payments within 48 hours of selling their catch to the State-owned fisheries firm.
In addition, he said that the President has been listening closely to the concerns raised by local fishermen and working hard to find solutions to them.
Pointing out that Huvadhu Atoll is renowned for boasting a large fishing community, the Minister alluded to large-scale plans made by this Administration to enhance the country’s fisheries industry, which he said includes the project to increase Koddoo’s capacity.
"Some projects have already started in some places. The work that can be done in Huvadhu Atoll, especially in Kooddoo as all the islands in this Atoll depend on Kooddoo. The project to increase the capacity of Kooddoo is moving along quickly. We have secured the required funding to get the project off the ground and the project is almost now ready to begin,” Minister Shiyam explained.
The USD 6.6 million project is set to be completed within 365 days aims to increase the cold storage capacity by 4,000 tonnes and enhance the power infrastructure in Kooddoo. Currently, Kooddoo has a 2,000-tonne cold storage facility, and the new project will raise the total capacity to 6,000 metric tonnes, with further plans for expansion.
Maldives' total cold storage capacity currently stands at 8,500 tonnes. However, President Muizzu has pledged to triple that capacity within his term of office.
The expansion of cold storage capacity is expected to improve fish pricing in the Maldives, as currently, 65 percent of the country's catch is exported raw due to the inadequate storage facilities.