Chancellor George Osborne has welcomed the £98 million investment at a Snodland paper mill, which has secured 150 jobs.

Smurfitt Kappa announced the introduction of a machine which will allow the Townsend Hook site to produce more packaging and remain competitive in the international market.

The work at the Mill Street site, which has produced paper for 150 years, is due to be completed by 2014.

Mr Osborne said: "I'm delighted the town of Snodland and surrounding areas will benefit from both direct and indirect economic and employment opportunities as a result of the company's £98m investment in the paper mill.

"It is a vote of confidence in the UK economy and will maintain the historical link between Snodland and the paper making industry."

Chatham MP Tracey Crouch said the investment was "very good news not just for those in Snodland but for the wider local and national economy."

She said: "The investment will not only benefit those who work at the facility but all those who supply for or purchase from the site."