COPENHAGEN (Reuters) -Danish drugmaker Novo Nordisk will invest 15.9 billion Danish crowns ($2.29 billion) to expand a production facility in Denmark for the future portfolio within serious chronic diseases, the company said in a statement on Monday.

The existing facility produces Active Pharmaceutical Ingredient (API), the main biologically active components of medicines, and will be expanded as a multi-product facility, with flexibility to accommodate new processes.

Construction is underway and the facility is expected to start producing Active Pharmaceutical Ingredient by early 2029.

Novo, which produces API at two facilities in Denmark, said last year it planned to invest 5.4 billion crowns to expand facilities in Bagsvaerd, Denmark.

($1 = 6.9330 Danish crowns)

(Reporting by Louise Breusch Rasmussen, Nikolaj Skydsgaard, editing by Terje Solsvik)