A financial agreement was signed yesterday between the Government of Malta and the Fisheries Cooperative Ltd, Azzopardi Fisheries and Bugeja Fish Market. The three enterprises received a grant worth Euro 500,000. The grant is part financed by the Maltese government and the EU and excludes VAT.

Parliamentary Secretary Frans Agius said that this agreement besides facilitating the operations in the fishing industry also adds value to the Maltese product. He also said that the grant covers 40 per cent of the costs incurred for the various projects. He praised the organisations’ willingness in carrying the remaining 60 per cent of the projects.

The agreement is aimed at improving the processing, distribution and preservation facilities so that the high quality of the product is maintained from the catching to the distribution of fish.

Fisheries Cooperative Ltd will invest in steel tables, an ice-making machine and air lock mechanism that will allow for better sanitary conditions while loading the fish on trucks. Azzopardi Fisheries will invest in filleting, freezing and processing machines while Bugeja Fish Market will invest in processing equipment that involves smoking and marinading of fish.