Most of the 2,6 billion will remain in Sweden where Europe's largest cottage cheese factory is currently being built.
"We've seen an increased demand of cottage cheese and we're at capacity, so we're building a new factory," says Jörgen Greve, product director at Arla in Sweden.
The single largest investment will end up in Denmark where a lactose-free factory is being built. The factory will produce lactose-free products for growing markets such as the Middle-East and Asia.
Late last year Arla presented a savings package that meant that 360 Swedes lost their jobs, this number has been renegotiated down to 250 since.