Fiordland Lobster Company had spent more than $1 million fitting out the Sawyers Bay site - the only rock lobster processing plant in Otago, chief executive Mike Schuck, of Te Anau, said.
Last season, the company shut down its smaller South Dunedin site and moved to the former Ngai Tahu Seafood site in February as it recognised the potential of the fishery.
The company had invested in four large swim tanks with state-of-the-art filtration equipment capable of holding 40,000 litres and 3000kg of rock lobster each, he said.
With the Otago rock lobster season expected to begin on June 21, the plant, which employs 12 people, could potentially process all of the 189-tonne annual quota, worth an estimated $10 million, he said.
Fishermen could earn between $35 and $70 a kilogram depending on the grade, with the price of live rock lobster exports holding up well overseas despite the recession, Mr Schuck said.
After being caught by local fishermen, Otago rock lobster could be in a Tokyo restaurant just two days later, fetching three times the price.
Setting up its South Dunedin plant three years ago, the company originally exported 40% of its catch live overseas with exports rising to 80% last season as the market for frozen rock lobster declined.
"Now, we are aiming for 100% to get better returns for fishermen."
While almost all of New Zealand's live rock lobster export went to China, Otago rock lobster was a sought-after product in Japan due to its smaller size.
"It has been very successful over there."
With an established export packing plant in Te Anau, the Fiordland Lobster Company's investment in Dunedin was recognising the potential of the area and provided a back-up system for the company in case of any emergency, he said.
The plant had already begun processing 12,000kg of rock lobster from Kaikoura, and between 10,000kg-50,000kg from Te Anau for export.
