The Nordic meat producer said the investment fitted with its strategy for "profitable growth", and the reformation of its industrial production practices.
Its board of directors has given the green light to two projects – the first a €35m-€65m investment in western Finland, and the second a €20m investment in Estonia.
The firm said the investment would "enable the development of new products", improve product quality, safety and working conditions, and reduce the environmental impact of its production.
HKScan’s Kariniemen branded poultry products are produced at its Eura plant in Finland. The planned investment would involve the renovation and expansion of this plant, as well as a new production facility in a new area of western Finland. The design phase of this project is expected to last until next summer.
In Estonia, the company plans to build a new manufacturing facility – approximately 10,000m2 – located at HKScan’s existing facilities in Rakvere.
According to HKScan, the demand for Finnish poultry meat has been increasing at a rate of 2-4% over the past few decades, with this growth expected to continue. Last year the consumption of poultry meat in Finland stood at around 20kg per person, it said.
The company exports to around 50 countries and has a turnover of around €2.1bn.