The official opening came just three weeks before EU milk quotas are lifted on 31 March 2015.
Quotas have been in place since 1984, but from 1 April 2015, Irish farmers will be allowed to produce as much milk as they want.
Glanbia predicts that an additional €1 billion will be injected into the Irish economy, through a 50% growth in demand for milk supplies by 2020.
3. What opportunity will result from the lifting of the milk quotas?
70 high skilled direct jobs were created at the nutritional ingredients plant since it began operating in early December.
The Taoiseach was joined by Minister for Jobs Richard Bruton, Minister for Agriculture Simon Coveney and the European Commissioner for Agriculture and Rural Development, Phil Hogan for the launch.
Taoiseach Enda Kenny said this will be the year of ‘rural recovery in Ireland because of developments like this.’
‘Such investment is a real vote of confidence not just for this area but for Irish agriculture generally, and marks another milestone in the continued expansion of the dairy sector.
‘I am particularly delighted that the milk products made here will all be for export. It highlights how Irish agriculture has been, and will continue to be, a shining light during the darkest of economic times.
‘2015 is a historic year for Irish agriculture and the opening of this plant will be one of its major highlights,’ he said.
