The UK's largest brick manufacturer is aiming to increase production capacity at the site in order to meet growing demand for customers.
Welcoming the plans, Housing Minister Alok Sharma said the investment is "fantastic news for the building materials industry".
Speaking at the Builders Merchants Federation (BMF) Members Day in Leicestershire today, 20 September, Minister Sharma said: "Delivering more homes is a key priority for this Government. Builders' merchants have an absolutely vital role to play in this, supplying the essential materials we need to get our country building faster.
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"Ibstock's major investment at their Leicestershire site is fantastic news for the building materials industry, demonstrating continuing confidence in this sector and growing consumer demand."
Wayne Sheppard, Chief Executive Officer of Ibstock, said: "We're incredibly proud to be making such a significant investment in our Leicestershire site. Brick is the number one construction material of choice, and we are increasing our production capacity in order to meet growing demand from our customers that is being driven by growth in housebuilding.
"We welcome the Housing Minister's positive comments about Ibstock's investment, and we are pleased to see the Government recognise the important role that the building materials supply chain plays in providing essential materials to support housing growth and growing the economy across the country."
(LM)
