Minister of Fisheries and Ocean Resources Ahmed Shiyam has met with the Chairman of Dongfang Electric Li Jianhua and a senior delegation to discuss the work program on the recently signed memorandum of understanding (MoU).
The Maldives government and Dongfang Electric signed the agreement with the aim to develop processing plants in Lh. Felivaru, Dh. Maadheli, and GDh. Fiyoari.
During the meeting, Minister Shiyam emphasized the need for project designs that “focus on innovation, automation, and green energy”. The plans need to adhere to these to ensure the Maldives fisheries activities remain the “cleanest and greenest fishery” globally, the ministry said.
At the meeting the Dongfang Electric Chairman assured, the corporation would prioritize the project and emphasized they would complete the initiative by the end of 2025.
Earlier on April 15 this year, the government confirmed signing the agreement with Dongfang Electric International Corporation, under which the new factories will be developed to address the constraints faced by local fishers in weighing and selling fish.
Under the project, 100-ton factories will be developed in Felivaru and Fiyoari, and a 50-ton factory will be established in Maadheli, with the Felivaru building reportedly costing USD 50 million, Maadheli factory costing between USD 75 and 100 million. The factory in Fiyoari will reportedly cost between USD 50 and 75 million.
Earlier, the minister also noted that the new factories will boost the dollar revenue to the Maldives from fish exports from USD 91 million per annum to USD 180 million.