A €50m investment aid package has been announced for the beef and sheep meat processing industries.
The initiative is funded under the national development plan and is expected to trigger investments worth €120m.
Beef and sheep meat processing are among Ireland's most important indigenous industries and together have an annual turnover of €3bn, with exports of €2bn in 2006.
The investment is expected to increase scale in primary processing and increase value in further processing.
It will also improve efficiencies to allow Irish companies to compete internationally.
The Minister for Agriculture & Food, Mary Coughlan, said the meat industry needs to adapt positively and efficiently to evolving market demands and standards.
She said the investment package will ensure the development of the sectors into the future and also underpin agricultural incomes.
