Glanbia Ingredients Ireland (GIIL) plans to establish a new ingredients facility in Belview with an investment of EUR150m, a move which is expected to create more than 1,600 jobs by 2018.
The construction of the new facility is set to start on 17 May and is expected to create 450 jobs during the phase. The facility is scheduled to commence production in the mid of 2015 and all the produce from the facility will be dedicated for export markets.
GIIL CEO Jim Bergin said the Belview facility is a significant, strategic development for the company.
"The Belview plant will be entirely focused on export markets and will supply a range of nutritional powders to an increasing number of regions including the Middle East, Africa, Central America and Asia."
Glanbia stated that through Enterprise Ireland, the Department of Jobs, Enterprise and Innovation will part-fund the development of the new facility.
The support of Enterprise Ireland will allow GIIL to focus on value-added markets, further invest in technology and innovation, build organizational capability, enhance sustainability and accelerate the company's expansion plans with its 4,300 milk suppliers.
GIIL is working with its suppliers to prepare for expansion, including index-linked milk pricing, volatility management tools, a sustainability program and financial training.
GIIL processes 1.6 billion liters of milk or 30% of Ireland's milk pool into a wide range of dairy ingredients for export to more than 50 countries worldwide.