The government of Maldives has contracted United Arab Emirates' (UAE) Aqua Bridge Group to build and operate a multi-species hatchery in GA. Maanaagala.
The project was contracted for USD16 million (MVR246.8 million).
Signing took place between Ministry of Fisheries, Marine Resources and Agriculture and Aqua Bridge Group during a ceremony held for it on Thursday, November 3, 2022.
The project falls under World Bank's grant towards improvement of fisheries and agriculture sector; run by the ministry under "Sustainable Fisheries Resource Development Project".
All administrative blocks required for the hatchery operations have already been constructed.
Aqua Bridge Group is expected to run the hatchery that will largely focus on production of sea cucumbers, groupers and baitfish.
An official speaking on behalf of Aqua Bridge confirms they have been contracted to develop the hatchery under a one-year period. Government has contracted the company to operate the hatchery for a duration of 20 years.
The contractor, Aqua Bridge Group is a well known establishment in aqua-culture and fisheries, across the globe, boasting a rich hatchery portfolio in several international destinations.
Meanwhile, Minister of Fisheries Dr. Hussain Rasheed Hassan has requested from World Bank to increase the project period of Maanaagala. The request was formally put forward during Tuesday's portfolio handover by the bank to Maldives government.
Minister requested for an increment in project duration owing to significant hindrances experienced amid Covid-19 pandemic. The development phase of the project according to the contract will be due by the end of 2022.
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