Diageo the parent company of Guinness is to invest €38 million in its Waterford and Dundalk breweries.
Guinesss will spend €34 million on the Waterford plant and €4 million on the brewery in Dundalk.
Guinness Ireland said the expansion would accomodate the overseas sales of its stout, which have grown by 9 per cent in the last three years.
A spokesperson said a second special ingredient production plant is required as the facility at St James Gate in Dundalk is nearing full capacity.
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The Waterford plant is to be converted to a new state-of-the-art facility.
Additional investment will be involved in the transfer of ale production, to the Guinness UDV owned Dundalk brewery.