Fonterra is set to invest $150 million to build a new plant at its Edendale site in Southland to meet growing demand from Asia.

The plant will produce UHT cream - a product that expected to experience growing demand over the next decade.

Fonterra CEO Miles Hurrell says this venture will open up at least 70 new jobs in the area.

"We've got a strong pipeline of people coming through right across the country."

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