Dairygold to invest E117m in Irish dairy operations
Irish dairy co-operative Dairygold is planning to invest €117m in its dairy processing facilities at Mallow and Mitchelstown in Co Cork.
The dairy seeks to benefit from the abolition of milk quotas effective from April 2015 through an expansion of its facilities.
National Dairy Council boss Zoe Kavanagh said: "Economists estimate that expansion which will follow the abolishment of milk quotas in 2015 could be worth €1.3bn per year to our economy, with the potential to create 15,000 additional jobs, from farm gate to dairy processors and spread throughout the counties.
"Nurturing and building on the domestic trust and reputation we enjoy is vital in establishing a secure platform at home for the sustainable export-led growth that will allow the benefits of Irish dairy products to reach a wider community of consumers."
The expansion is expected to create 115 full-time jobs by 2020, besides 400 temporary jobs during the construction phase.
Dairygold processed more than 960 million litres of milk in 2013 and exported its products to over 50 countries.
Moreover, the Irish Dairy Board plans to build a Centre of Excellence for butter production and packaging in Mitchelstown, in a move to grow its Kerrygold brand.