Northern Irish farmers are being encouraged to apply for grants of up to £250,000 as part of the Farm Business Improvement Scheme – Capital (FBIS-C).
This tranche of tier two, worth up to £12m, will support transformational investment in on-farm projects costing in excess of £30,000.
Funding is provided at a grant rate of 40% of eligible costs, with £250,000 the maximum grant available under the FBIS-Capital scheme.
The focus of tier two is on larger-scale investment to encourage change in the agriculture and horticulture sectors.
It also aims to drive transformational investment in modern infrastructure and equipment, guided by a robust business planning process within assisted farms.
An Expression of Interest stage has now been launched by DAERA farming minister Edwin Poots.
"I would encourage potential applicants to read the guidance notes online and if they feel they are ready to invest, complete an expression of interest form," he added.
Successful applicants will have a maximum of one year to complete their project.
The Expression of Interest stage will help determine the scale and scope of the full application stage for Tier 2 tranche 2.