A global healthcare company will establish a manufacturing centre in Melbourne, creating 120 jobs.
Fresenius Kabi Australia is developing a $47 million pharmaceutical manufacturing plant and distribution centre, creating jobs including for skilled manufacturing workers and engineers.
The company produces chemotherapy products in Sydney and Brisbane, but will extend its operations to Melbourne, producing intravenous fluids for Australian hospitals and specialist clinics.
The centre is being built with the help of a grant from the Victorian government and will be completed in 2015.
Premier Denis Napthine said the plant would be a boon for the healthcare sector and the economy, but would not disclose the financial contribution.
''This new facility represents a significant vote of confidence in Victoria's healthcare industry and the state economy,'' he said.
The government assisted Fresenius Kabi to set up in Victoria using a $55 million fund to encourage biotechnology investment in Victoria.
The centre will be able to operate 24 hours a day to meet hospital demand.