New dairy plant to be built in south Waikato by Singapore’s Olam
Singapore company Olam plans to build a dairy processing plant at Tokoroa in south Waikato. The milk processing site, which will be the 14th in the Waikato region, will begin operations in 2023.
The company is still waiting on Overseas Investment Office and resource consent clearance, however, because Olam is already established in New Zealand, industry experts anticipate the $100 million-plus plans to be approved. Olam’s involvement in the New Zealand dairy sector goes back 13 years. It was previously a shareholder in New Zealand’s second-largest milk processing and exporting company Open Country Dairy.
A spokesperson said the new plant would produce dairy ingredients for overseas food service markets and is expected to create 50 to 60 new full-time jobs when fully operational.