The Maldives Industrial Fisheries Company (MIFCO) has announced that their ice plant in southern Fuvahmulah city is now fully operational.

MIFCO says that the ice plant has the capacity to produce 25 tons of ice, all of which will go to use in commercial fishing, in 24 hours.

The project to develop the ice plant was launched in 2015, during which period MIFCO also developed an ice plant in Gemanafushi of southern Gaafu Alif atoll, and a fisheries complex in Addu City.

The Addu Fisheries Complex produces 100 tons of ice a day, while MIFCO’s biggest ice plant, in Felivaru island, produces 250 tons a day.

MIFCO operates 16 ice plants across the country; the state-run company is the single-largest purchaser of fish catch from local fishermen, which it treats and packs at various canneries across the country.

MIFCO, which was in 2016 merged with the state trading company after near bankruptcy, has been struggling financially.

In early November last year, due to said financial situation, MIFCO asked fishermen to accept payments in credit and to go to Kooddoo Island with corresponding guarantee slips to receive payment.

The government this year has given about MVR 68 million to clear these payments to local fishermen.

MIFCO also received a MVR 620 million bailout from the government to finance their operations.