One of Australia's largest cheese suppliers is to receive a $20 million (€12.16m) loan from the New South Wales government to expand its cheese processing facilities, IndustrySearch.com reported on Friday.
Bega Cheese will upgrade its processing facilities in the south coast town of Bega with an increase in staffing levels by more than 100 per cent, the report continued.
A government loan programme was established through the NSW Treasury Corporation to help co-operatives like Bega Cheese expand, Premier Carr said.
"I am pleased to inform the house the NSW government has agreed to lend $20 million to expand its world class cheese processing facilities on the south coast of NSW,"Carr said during question time at NSW parliament.
"Bega Cheese is Australia's largest cheese maker and it is about to get considerably bigger with good news for jobs on the south coast. With our help, production will increase from $100 to $200 million a year," he added.
Bega Cheese spokesman Barry Irvine said the company would use the loan to double its cheese cutting and processing capacity and increase employment at the plant from around 200 to 450 staff.