Fonterra – the world’s largest exporter of dairy products – has announced that it will be investing up to $165 million for the expansion of its manufacturing plant in Victoria.

“Victoria is Australia’s jobs and manufacturing powerhouse, and this investment cements that reputation,” Minister for Industry and Employment Ben Carrol said.

This project will comprise of:

• More than $125 million to double to size of Fonterra’s flagship Stanhope cheese plant on northern Victoria
• $7 million expansion at Fonterra’s Darnum nutritional plant in Gippsland
• $13.5 million for projects at Cobden and another $8.6 million at Dennington in Western Victoria

Approximately 36 ongoing local jobs will be supported with the expansion of the Stanhope plant alone and more jobs will be generated during the construction phase of the entire project.

The expansion of Fonterra’s dairy facilities will create an additional 500 million litres of processing capacity, which will allow local dairy farmers to increase their production as well as ensure all farmers will have a home for their milk.

“This is a huge vote of confidence in our dairy industry from Fonterra, a world leader in Australia’s $2 billion consumer cheese industry.

“Through peaks and troughs, we’ve supported our hardworking dairy farmers and will continue to invest in projects that help the industry continue to innovate and grow,” Mr Carrol said.

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Source: Premier of Victoria, Dairy Reporter.com