Two hundred new jobs have been created in Broadmeadows following the expansion of a world-class medical manufacturing plant.

Global biotherapeutics company CSL opened the $230 million extension to its Broadmeadows plant earlier this month, where it will manufacture albumin – a protein derived from human plasma used in critical care to treat burns and shock.

CSL expects the facility to produce therapies valued at $850 million, with plans to export products to the US and Europe, while also producing products for the local market.

Chief executive Paul Perreault said the new jobs would be created by 2026.

“CSL’s investment in Broadmeadows embeds the site into our global plasma manufacturing supply chain, which now supplies lifesaving therapies to patients in more than 60 countries,” he said.

Industry and Employment Minister Ben Carroll said the expansion was supported by the state government.

“Not only will this new facility produce life-saving medicine but it will also create hundreds of new jobs for Victoria,” he said.

Broadmeadows MP Frank McGuire said the expansion would secure the future of the people currently employed at the site.

“CSL’s significant investment will save lives, enhance Victoria’s reputation as an international leader in medical research and adds jobs to the almost 1000 people employed at the Broadmeadows site,” he said.