The Ministry of Fisheries and Aquatic Resources Development said it has decided to establish a factory with latest technology to process fish for export purposes. The factory, which will be established according to a proposal of Minister of Fisheries and Aquatic Resources Development Mahinda Amaraweera will be located in the Ceylon Fisheries Corporation (CFC) premises in Mattakkuliya at a cost of approximately Rs. 75 million. Funds for the factory will be obtained from the Treasury. Fish processing industry in Sri Lanka is currently implemented successfully in a backdrop where EU fish ban was lifted and 32 non-functioning fish processing manufactories, which provide employment to a significant number of people, were re-opened. Sri Lanka processes fish especially for Sushi and Sashimi, two popular Japanese dishes and it is highly popular in the international market. A kilogram of processed fish is generally sold to a high price of Rs 10,000. Even though Sri Lankan fish products are highly demanded in the global market, Sri Lanka is only able to satisfy 35 percent of the total demand. Therefore, CFC’s approach to boost the fish processing industry will facilitate the supply of high-quality fish to the international market while giving the fisher community an opportunity to get a high price for their fish harvest, the Ministry said. The Minister after undertaking an observation visit to the site of the proposed factory, instructed the Chairman of CFC to complete the constructions within the next 6 months. Fish export income of Sri Lanka in last year was recorded to be Rs. 1.2 billion and a three-fold increase in the income is expected this year, said the Minister.