Agreements on eight ice plants awarded to Fenaka terminated

Fisheries Ministry, on Thursday, revealed the current administration has terminated eight agreements executed with Fenaka Corporation concerning the development of ice plants across various Maldivian regions.

Speaking at a press conference held by the Fisheries Ministry on Thursday, Minister Ahmed Shiyam said Fenaka was contracted the development of nine ice plants by state fisheries company MIFCO.

The Minister, noting that work was not progressing at most of these ice plants in accordance with the agreements, said the agreements, therewith, have been terminated. None or very little work took place on the ice plants under the agreements that were terminated, he added.

In this regard, Minister Shiyam said eight of the nine agreements executed for the development of ice plants have been terminated. He detailed that the projects were awarded at a significantly lower price than the market rate in the international arena.

Henceforth, Minister Shiyam said the agreements were terminated with agreement of both parties, after establishing Fenaka’s inability to implement the project.

He noted that MIFCO has been tasked with carrying out the ice plants in order to ensure they are developed at the earliest. In this trajectory, he emphasized that the government aims to complete a majority of these ice plants within this year.