Mifco ice plant to increase capacity to 50 tons

Mifco has said that their ice plant in Felivaru would be increasing capacity to 50 tons before the end of next month.

Managing Director of Mifco, Adlee Ismail said that although Mifco is facing difficulties in many ways, everything that can be done is being done to take the company forward.

Previously the Felivaru ice plant can store 15 tons of fish. And the Mifco ice plant project in Addu City is to begin in the next week or so. Adhlee said that the equipment needed for the Addu ice plant has now been transferred to the site.

Responding to the rumors that Mifco has run out of their spending buget, Managing Director Adlee said that sending fishermen to fish is a Government policy and Mifco has been buying fish from the fishermen in a higher price than the world market. And that has been causing some losses to the company.

He said that due to difficulties with some issues and delay of some bills owed to the company caused some delays in the payments to the fishermen. But that money would be given starting on Sunday.

“The company did not run out of money. This is a business company. So the budget won’t run out. But with the price of fish has gone down these days in the world market, lower than it has gone in the past five years so we faced some cash flow issues.” Adlee said.