A company which is part owned by the Killybegs Fishermen's Organisation has begun operations in Monaghan, with work due to start on a major plant in Killybegs next year.
Bio-Marine Ingredients Ireland has now commenced full commercial production at its processing facility in Lough Egish, Co Monaghan.
The Killybegs facility, which will make marine protein ingredients, suitable for human consumption, will be ten times the size of the Monaghan plant.
Bio-Marine Ingredients Ireland is engaged in developing hwat it terms a new source of sustainably produced marine protein ingredients, suitable for human consumption.
The company says with ongoing food ingredient inflation and a rising demand for quality protein in the food manufacturing sector, there is a strong and increasing demand for marine derived nutritional and bioactive ingredients which can both substitute and be complementary to vegetable and animal ingredients.
After confirming a further tranche of funding for the project, Enterprise Ireland CEO, Julie Sinnamon said BII is entering a significant phase of growth through the development of the new facility in Co. Monaghan and the subsequent creation of further jobs.
The Monaghan facility has capacity for 12,500 tonnes of fish, while the has planning permission for a second larger marine ingredients processing facility in Killybegs, Co Donegal which will cost an estimated €35million to develop and will have capacity for 120,000 tonnes of fish. Construction is provisionally scheduled to get underway in 2018.