Eye care company Bausch + Lomb is to create 130 jobs as part of a €90 million investment at its manufacturing facility in Waterford city.

The plant currently employs more than 1,500 people and the new investment will increase capacity for the manufacture of the company's Biotrue ONEday range of contact lenses.

Production is due to start in 2023 when the 130 additional jobs will come on stream. Meanwhile, 150 workers are expected to be employed during the construction phase of the expansion.

According to the company, the investment will "further strengthen" the Waterford plant’s position in supporting Bausch + Lomb’s efforts to increase market share in the contact lens market.

In recent years, the multi-national increased contact lens capacity at its sites in Waterford and Rochester in New York by addition new production lines.

Tánaiste Leo Varadkar said the news is "a great vote of confidence" in Waterford and reaffirms the company’s commitment to the southeast region.

Bausch + Lomb’s site lead in Waterford, Mark Hennessy, said the expansion will enable the facility to meet the growing demand for their disposable contact lenses.

"The Biotrue lens was developed by the team in Waterford and supported by our commercial colleagues around the world, and it continues to grow in our US, European and Asian markets," he said.

"We recently celebrated the 40th anniversary of the establishment of Bausch + Lomb Waterford, and the decision to make this significant investment in Waterford was influenced by our track record in providing high-quality products and excellent customer service to markets around the globe."

IDA Ireland CEO Martin Shanahan said the expansion is "a welcome addition to the southeast region’s thriving MedTech cluster".

Recruitment for the new jobs will begin in 2022.