Killybegs in Co Donegal is to benefit from a total €50m investment aimed at futureproofing the region's fish processing sector and maintaining and increasing jobs.
Bord Iascaigh Mhara said that several companies are currently undergoing substantial developments which will modernise seafood processing facilities and add cutting-edge energy efficiency initiatives.
Two of the businesses making substantial investments, with the support of the Brexit Process Capital Support Scheme, are Gallagher Bros (Fish Merchants) Ltd and Killybegs Seafoods.
Between them they have been allocated the top two highest grants under the scheme, totalling €12.1m, and are spending a total of €31m.
The scheme, implemented by BIM, was recommended by the Seafood Taskforce established by Minister for Agriculture, Food and the Marine, Charlie McConalogue.
The investments in various Killybegs based companies will make it a more attractive location for fishing vessels to land and discharge catch that might otherwise go to the UK, mainland Europe, Norway, Iceland and the Faroe Islands.
Other seafood processors in Killybegs who make up the total €50m investment include Norfish Ltd, Premier Fish Products, Donegal Fish, Sean Ward Fish Exports, Island Seafoods and Albatross Seafood.
Funded by the European Union under the Brexit Adjustment Reserve (BAR), the Brexit Process Capital Support Scheme will deliver up to €45m in funding to the Irish seafood sector.
BIM CEO Caroline Bocquel welcomed the investment in Killybegs, which she said is a very important centre for the fish processing sector in Ireland.
"It is vital that our seafood processing companies are innovating and keep up to date with automation technologies and energy efficiencies in order to remain competitive," she said.
She noted that the Brexit Process Capital Support Scheme is helping fish processors with transformational change, and building more environmentally friendly, sustainable and competitive enterprises.
She noted that the Brexit Process Capital Support Scheme is helping fish processors with transformational change, and building more environmentally friendly, sustainable and competitive enterprises.
"In the wake of reduced supply of raw material, the scheme is vital in supporting capital investments that put an emphasis on 'creating more from less', encouraging processers to produce higher value product and focus on secondary processing and beyond," she added.
Managing Director of Killybegs Seafoods, John McGuinness, said the company's total investment is part of a long-term strategy to ensure sustainability of the business, and to maintain employment in the Killybegs region.
"The primary objective of this investment is to bring transformational change to the business, enabling us to process larger volumes of fish more efficiently, and to create capacity for the development of increased value-added produce, primarily mackerel fillets," Mr McGuinness said.
David Gallagher, a director of Gallagher Bros (Fish Merchants), said the new investment will see a new plant and automation process which will transform the energy efficiencies within production.
The development is part of Gallagher Bros Project Green Factory Upgrade which will increase the emphasis on further processing of mackerel and blue whiting products, he added.
"We had plans to upgrade before Brexit happened, and everything stalled. The Brexit Process Capital Support Scheme grant through BIM was the shot in the arm we needed to be more audacious. We are very excited now about the future," he added.
