An announcement about the creation of 140 jobs in west Donegal is expected today. A Malaysian pharmaceutical and healthcare firm, Hovid, is to set up its European manufacturing base in Dungloe, where it will make nutritional health supplements.
The Government first approved the £15 million financial package for the project in 1997, but it was delayed because of the economic crisis in south-east Asia and exchange controls.
Now, however, the green light for the investment has been given. Hovid will be based in one of the former Fruit of the Loom plants. The news is seen as a major boost to the region, which has an unemployment rate three times the national average. Hovid has also indicated it may employ up to 400 people in the longer term.
Its managing director, Mr David Ho, will arrive in Dungloe today to sign contracts for the project. He will be joined by senior figures from Udaras na Gaeltachta, and the Minister of State at the Department of Arts, Culture, Heritage and the Islands, Mr Eamon O Cuiv.