The world’s largest exporter of dairy products, Fonterra, has shown its confidence in doing business in regional Victoria with a $165 million investment in manufacturing plant upgrades announced today.
Minister for Industry and Employment Ben Carroll said the investment included $125 million to double the size of Fonterra’s primary cheese plant at Stanhope, which will create around 36 ongoing local jobs.
“Victoria is Australia’s jobs and manufacturing powerhouse, and this investment cements that reputation. 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.”
Minister for Industry and Employment Ben Carroll
An additional three sites in regional Victoria will also benefit from the multi-million-dollar investment in infrastructure that will secure existing jobs.
Last year Fonterra rebuilt and expanded its operations at Stanhope through a $140 million project made possible through the support of the Andrews Labor Government.
The Stanhope cheese plant currently produces around 45,000 metric tonnes of cheese each year and the expanded plant will boost that capacity by 35,000 tonnes, creating local jobs and supporting Victorian farmers.
The additional $165 million investment, announced today, includes:
- Over $125 million to double the size of Fonterra’s flagship Stanhope cheese plant in northern Victoria
- A $7 million expansion at Fonterra’s Darnum nutritionals plant in Gippsland
- $13.5 million for projects at Cobden and another $8.6 million at Dennington in Western Victoria.
Today’s investment will create an additional 500 million litres of processing capacity, allowing Victorian dairy farmers to grow their production and ensuring all farmers have a home for their milk.
Along with creating ongoing jobs once the sites are expanded, more jobs will be created during the construction phase, emphasising that regional Victoria is a great place to do business.
Victoria is Australia’s home of manufacturing – a diverse industry that provides jobs, high-quality exports and substantial economic growth.
Food and beverage manufacturing is thriving, with employment steadily increasing over recent years.