Company founders Gerry Ginty and Ashley Gardiner said they will submit planning permission today to open what they describe as “a craft distillery” on the estate.
The project is a joint venture with the Powerscourt Estate and includes a visitors’ centre.
They say 30 jobs will be created in building the distillery and 18 full-time jobs when it starts operating.
The distillery will in time produce over one million bottles of whiskey a year, with the first whiskey due to be casked by the end of next year.
It involves the refurbishment of an old mill house on the Powerscourt Estate. Barley from local fields will be mixed in the still with mineral water from the estate.
It is the latest project that plans to tap the increased demand around the world for whiskey.
Among the scores of distillery projects, John Teeling has invested in a grain distillery in Dundalk, Co Louth, while his sons have lunched a new distillery in Dublin.
Mr Ginty, chief executive at the Powerscourt Distillery said the setting in Co Wicklow will help it market its “premium” whiskey around the world.
“The Irish whiskey sector is the fastest growing alcoholic drinks category in the world, averaging double digit growth over the past five years,” he said.
Mr Gardiner said that the project will be helped by the 500,000 people who visit the estate each year.
Sarah Slazenger, managing director of Powerscourt Estate, which is owned by the Slazenger family, said that the distillery project will also help sustain plans to develop the estate.