Australia's richest man, Anthony Pratt, will invest billions of dollars into his cardboard and recycling empire, which is expected to create 5,000 new jobs over the next decade.
The money will go towards a major expansion of Visy's Australian operations, which has offices across suburban Melbourne.
Mr Pratt, who is worth $12.59 billion, said he was committed to keeping jobs in Australia.
"The $2 billion investment pledge I'm announcing today will be spent expanding Visy's manufacturing capabilities throughout Australia including new investments in clean energy," he said.
"We are one of the most environmentally committed companies and so much of the $2 billion will be spent on technologies that not only create those high-paying manufacturing jobs, but also enhance sustainability and energy security.
"At the end of the 10-year investment program, Visy's total investment in Australia will be $8 billion in today's terms, and we will have created a total of almost 30,000 direct and indirect jobs."
Mr Pratt made the announcement with Prime Minister Malcolm Turnbull at the opening of Visy's $1.1 billion pulp and paper mill at Tumut, in southern New South Wales today.
The Tumut mill has recently received a $100 million upgrade.
