A new plan to secure the long-term future of the meat plant is being drawn up - after a tender process failed to find a private operator to run the facility.

Meanwhile, the government-owned abattoir, which slaughters cattle, sheep and pigs from local farms, will continue to operate - and the DEFA Minister described it as a strategic asset that must be retained.

The Department of Environment, Food and Agriculture says it will announce a detailed plan before the end of 2017 setting out an effective way forward.

Currently run by Isle of Man Meats, a co-operative of farmers under the Fatstock Marketing Association (FMA), the Tromode plant requires an annual government subvention, which in 2016 rose to more than £1.3m.

In a bid to reduce the burden to the taxpayer, DEFA this year sought a private operator to take over the running of the meat plant.

However, a tender exercise did not identify a preferred bidder that met all the criteria set down by the department.

The department is now working on a revised solution that delivers a new business structure with a commercial board and improved pricing to farmers.

Initial discussions with the FMA and other key stakeholders within the farming industry have been positive and an industry meeting will take place in December, said DEFA.

Minister for Environment, Food and Agriculture Geoffrey Boot MHK said: ’The farming industry is important to our economy, our landscape and our way of life. The ability to slaughter our own animals and supply local meat to local customers is integral to the success of the industry and the meat plant is a strategic asset we must retain.’

He added: ’I want to reassure people that while the tender process did not identify a preferred bidder, the meat plant will remain open for business. The department is now focused on agreeing an approach that will best serve the industry, the consumer and the public purse. I am pleased with how the preliminary discussions have gone.’