Established in 1978, with the aim of expanding and diversifying the activities and operations of the fisheries sector, IEL is one of the first 100% locally owned companies to enter into fishing industry.

IEL’s history could be divided into two phases; first phase was from 1978 to 1989 when the Company was exporting disposable catch under a government liscence. It had a total of 25 vessels ranging from 20 tons to 1500 toons. The operations were initially carried out in Ari Atoll, Vaavu Atoll, Meemu Atoll, Faafu Atoll, Dhaal Atoll and Thaa Atoll. The Company was was exporting an average of more than 1200 metric tons per month. The Company was also supplying frozen fish to
Felivaru Canning Factory upon request during lean periods.

The present phase started in 2002 when IEL won the bid to invest in Zone 1 comprising the nothern four atolls; Haa Alifu, Haa Dhaal, Shaviyani and Noonu. An Agreement for Investment in Purchase, Processing and Export of the
Disposable Catch of Local Skipjack Fishery in Zone 1 was signed between the Government of Maldives and the Company for a period of 25 years.

Under the said Agreement, the Government also awarded an island to establish a fish processing plant along with the necessary infrastructure.

In total, the Company would invest more than 13 million dollars in Zone 1.

IEL is presently engaged in purchasing fish and exporting it in frozen form. The Company has commenced its shore-based investments which would inclue a
fish-processing factory would be developed on the island of Keekimini.

The Company owns a fleet of eight vessels, with a total holding capacity of
4045 metric tons.