UAE company contracted to build, operate $16 million hatchery
The construction is being carried out in two phases and all infrastructure work at the hatchery has now been completed in the first phase.
By
Ahmed Mizyal
UAE-based Aqua Bridge Group has been entrusted with the task of constructing and operating a multi-species hatchery in Manaagalaa island at a cost of $16 million (MVR 246.8 million).
The agreement was signed by the fisheries ministry and Aqua Bridge on Thursday. The agreement was signed by:
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Planning executive at the ministry Eenas Nasir
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Aqua Bridge CEO Mohammad Tabish
Under the World Bank-funded project, the government has given a 12-month deadline for the hatchery construction process. The UAE-based firm will get 21 years to run it, including the period allowed for construction.
The construction is being carried out in two phases and all infrastructure work at the hatchery has now been completed in the first phase.
The main species that will be farmed in the hatchery:
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Bait fish
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Groupers
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Sea cucumbers
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Prawns
On November 16, 2021, the finance ministry announced that it was looking for people to execute the project. The procurement of the project was carried out on the basis of International Competitive Bidding (ICB) norms.
