Up to €70m is available in the first phase of the scheme, being administered by Enterprise Ireland.
The closing date for applications is April 15, 2021.
At the recent scheme announcement, Agriculture Minister Charlie McConalogue said, “Sustainability, competitiveness and innovation are vital, so that our agri-food sector continues to grow existing and new markets.
“That often requires significant capital outlay, and this new fund is designed to ensure that the food industry can invest now in projects that will underpin its sustainable development over the next decade.
“The projects that will qualify for funding are focused on the future, supporting either new products and or new market diversification strategies.”
Detailed terms and conditions will apply, with aid awarded by Enterprise Ireland on the basis of a competitive call.
It is open to enterprises of all sizes engaged in processing and marketing of primary meat and dairy products.
Successful projects will be focused on the production of new and/or improved higher value add products, and/or production processes, required for new markets, and not principally focused on the processing of increased volumes of raw materials.
Applicants will need to demonstrate that the investment underpins sustainable food production, at both farm and processor level, and contributes to balanced, sustainable regional development.
All investments under the scheme will comply with national and EU legislative and regulatory environmental requirements and standards.
Eligible projects must have total eligible capital expenditure of at least €1 million, up to a maximum of €25 million.
The maximum aid intensity will be up to 30% of the eligible investment costs, up to a maximum direct grant of €5 million.