China's Kingway Brewery Holdings to invest US$100m in Xi'an

HONG KONG (AP) - Kingway Brewery Holdings Ltd. said it has entered into an agreement with Xi'an to invest US$100 million (euro82 million) in a brewing unit in the western Chinese city. 

The Hong Kong-listed company said in a disclosure that the agreement to set up the brewery, Kingway Xi'an, was made with the Xi'an Economic & Technological Development Zone. 

Xi'an is the capital city of Shaanxi province, home to one of China's most popular tourist sites: the terracotta soldiers, created more than 2,000 years ago for the tomb of China's first emperor. 

Kingway said the project will include a brewing facility with a capacity of 200,000 metric tons (220,000 short tons) a year. - AP

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