Ministry of Fisheries, Marine Resources and Agriculture signed an agreement with Aqua Bridge Group to develop a multi species hatchery in Ga. Maanagalaa.
Under the USD 16 million project, Maanagalaa has been given to the island for a period of 21 years to develop and operate the hatchery.
The hatchery's agreement was signed between the ministry and Aqua Group on October 27.
While Planning Executive Eenas Nasir signed from the ministry, CEO of Aqua Group Mohamed Thabish signed from the company.
The project is carried out with the assistance of World Bank, and has to be completed by 12 months.
So far, the first phase of infrastructural development for the project has been completed.
According to the Fisheries Ministry, the main species that will be populated are groupers, sea cucumbers and anchovies.
Futhermore, the ministry noted that with the development of this hatchery, some issues faced by the fisheries industry will be resolved.