Malé, Maldives – Government of Maldives has awarded a Dubai-based company, Aqua Bridge to build and operate a multi-species hatchery in Maanaagalaa island located in Gaafu Alif atoll.
The construction and operation of the facility is part of the Sustainable Fisheries Resource Development Project implemented by the Ministry of Fisheries under the World Bank’s grant assistance.
All the infrastructure under the project has already been completed according to the ministry.
The multi-species hatchery is a facility for the breeding of various marine life.
The Fisheries Ministry awarded the contract to Aqua Bridge Group on 27th last month. The company will spend $16 million (MVR 246.8 million) to build and operate the hatchery. About four hectares of land in the island will also be available to the company for the hatchery.
An official from Aqua Bridge said the hatchery should be completed within one year. The company has been given 20 years to operate the facility.
The hatchery will mainly breed bait fish, sea cucumbers and groupers, but also a large number of other fish, the official said.
Fisheries Minister Dr Hussain Rasheed Hassan asked the World Bank to extend the duration of the Managala project at the portfolio sharing ceremony held on Tuesday.
The project extension request was made due to the difficulties encountered during the pandemic. Initial plans were made to have the project completed by the end of this year.