Local drinks company Titanic Distillers is investing £7.6 million in the project, which will see the Titanic Pump-House redeveloped to create the new tourist attraction.
Economy Minister Gordon Lyons visited the site to see how the project is being brought to life first hand.
"I'm pleased to see Titanic Distillers' investment coming to life at this historic Pump-House today," said Minister Lyons. "Once the redevelopment is complete, the distillery will produce quality single malt Irish whiskey, contributing to the growth of Northern Ireland's whiskey cluster.
"By making such as significant investment, this local start-up has already been able to increase its global sales and is now set to provide an exciting new tourism offering for Belfast and Northern Ireland. This significant investment by Titanic Distillers will create 41 jobs by the end of 2024, with over £1 million of additional annual salaries contributing to the local economy once in place."
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Richard Irwin, Director of Titanic Distillers, commented: "There is a significant global market opportunity for Irish Whiskey and we’re already seeing great success for our Titanic Distillers Premium Irish Whiskey in retailers throughout Great Britain. With significant investment in a dedicated distillery, we'll soon be able to produce and bottle our own products on this historic site and build on our success to date to grow in global markets, with an initial focus on the US.
"We're very excited to embrace the history of our distillery's location to create a unique product and visitor experience in a World Heritage Site, immersed in the spirit of Belfast's industrial and maritime past."
Due to open later this year, the conversion will include the installation of three large stills on a mezzanine floor overlooking the original pumping engines. All of the original pump equipment and associated internal historic features of the building will be retained.
Invest Northern Ireland has provided support towards the creation of the 41 jobs and property assistance towards the redevelopment of the Pump-House.
Mel Chittock, Invest NI interim CEO, added: "It's great to see the ongoing growth of the Irish Whiskey sector in Northern Ireland, and for us to be able to support this. We've worked with Titanic Distillers since 2020, offering business advice, and our property team has offered support to create this state-of-the-art distillery and visitor centre. We're also helping it to create a strong local team to drive business development and exporting, helping it to find its place on the world whiskey map."
