Brazilian meatpacker JBS on Wednesday announced investments of 570 million reais ($118 million) in three new feedstock factories to cope with growing demand from its Seara processed foods unit, Reuters reported, citing a statement.

The aim is to increase JBS' feedstock production capacity by more than 1 million metric tons in Brazil, where Seara made recent investments to raise production of pork and chicken products.

The factories will come online early next year, the company said.

The new feed units will be built in southern Brazil, in Parana, Santa Catarina and Rio Grande do Sul states.

Seberi, in Rio Grande do Sul, will cost 230 million reais and will receive the most investment, the company said.

More than 300 jobs will be created when the factories start operating, JBS said. 

($1 = 4.8338 reais)