Australia could become the first country in the southern hemisphere to manufacture mRNA coronavirus vaccines, with the Victorian government committing $50 million to the project.

Acting Premier James Merlino said the funds would help establish a facility able to manufacture coronavirus vaccines, such as those produced by Pfizer and Moderna, in Melbourne. 

He said mRNA vaccines, which contain genetic code from a virus rather than the virus itself, were highly effective and can be manufactured quickly, cheaply and safely.

“Well, 12 months ago would have been the best time to have done this, but the next best time is right now,” he told reporters on Wednesday.