Director of Huon Aquaculture Frances Bender told ABCRural the extension is a result of the relocation of its processing plant in South Australia.
Once construction is complete the development will create more than 100 ongoing jobs.
Frances Bender says the investment will mean the company can develop more consumer friendly, innovative value added products, according to ABCRural.
"In some ways our industry is still in its infancy in the product range that we supply to the Australian consumer. If you visited any supermarket chain overseas, particularly in Europe you would see some amazing products that are pre-prepared but still fresh. There's still a lot of capacity within our industry to value add those types of products", she said.
The expansion at Parramatta Creek comes on top of record growth in the industry.
