The fishmarket (pixkerija) is to be moved from Grand Harbour to a state of the art facility in Marsa in just over two years' time.
The transfer of the fishmarket was confirmed in Parliament yesterday by Resources Minister George Pullicino.
Paul Fenech Gonzi, Director, Wholesale Markets and Fishing Fleet Facilities, said the move was made necessary by the need to install modern equipment and improve facilities.
The new fishmarket will be located on the site of a former reverse osmosis plant.
The project, to the funded mostly through the European Fisheries Fund, will include six chillers instead of the current two, a processing and packaging plant, and a crate washing facility, among other services.
The current fishmarket building, on the water's edge close to the old Customs House, was built some 50 years ago.
Infrastructure Minister Austin Gatt said the building could in future be used as a boutique hotel.