Details have been announced of a plan to build the world's largest seafood ingredients plant in Killybegs, Co Donegal.

The Killybegs Fishermen's Organisation in partnership with Norwegian company Biomarine Science Technology is behind the €35m investment, which would see the creation of 70 direct and indirect jobs.

However, the KFO says ultimately up to a thousand jobs could be created as a result of their ambition to create a centre of excellence for bio-marine production in the port with this plant as the cornerstone.

The plant will principally use boarfish as the main raw material to extract oils, proteins and calcium, which would be used in food ingredients including sports nutrition supplements.

Ireland has secured 70% of the quota for boarfish, which will mean that the plant will be have an initial capacity to produce 50,000 tonnes a year of marine proteins, fish oils and calcium.

Minister for Agriculture, Food and Marine, Simon Coveney described the plant as a "game changer" not just for Killybegs but for the Irish Seafood industry.