CEO of the Maldives Industrial Fisheries Company (MIFCO), Ismail Fauzee has said that the project to development Felivaru will be mobilized next month.

Talking on PSM’s “Raajje Miadhu” program last night regarding the Felivaru development project, Fauzee said that project funded by the Saudi Fund and the Line of Credit from India’s Exim bank will begin next month.

Fauzee said that development in Felivaru entails increasing storage to 4,000 tons and make it a fish buying facility with a strong canary with the capacity to process 100 tons of fish.

He said that by the end of the project, fifth generation boats can also easily weigh and sell fish. The MIFCO CEO also said that Kuddoo storage will be increased from 2,000 tons to 6,000 tons.

While MIFCO has undertaken a development project worth USD 50 million, Fauzee said that fishermen will receive fair price and their challenges will be addressed at the end of the project.