Mr Ndwiga, Egypt's co-operative and marketing minister, said the plant is expected to boost the fishing industry at the coast and create more jobs.
The investors are expected to carry out a feasibility study and identity the site of the factory and the Government would help fishermen identify lucrative markets for their produce. Currently middlemen were exploiting them by offering low prices, said Mr Ndwiga.
He has already conducted a funds drive in aid of the Rasini Fishermen Co-operative Society at Faza Island in Lamu District, where over Sh1.4 million was raised. He said that the firm, which imports fish, would also construct cold storage facilities in Faza, Kiunga and Kizingitini.
He urged more fishermen to form cooperative societies through which to market their fish as the Government would channel development funds to them through co-operatives.