CHINA: Kingway sets start date for brewery
Chinese beer maker Kingway Brewery said today (14 February) that its CNY400m (US$51.5m) plant in the city of Foshan will be up and running early next year.
Kingway said it has set up a subsidiary, Kingway Brewery (Foshan) Co., to run the brewery, which is based in China's southern Guangdong province. The brewery will have an annual capacity of 200,000 tonnes, Kingway said.
The company's board said the project is "important" to Kingway's plans to develop its namesake brand in Guangdong province.
Heineken holds an indirect 21.44% interest in Kingway through Heineken-APB (China), a joint venture between Asia Pacific Investment (API) and Asia Pacific Breweries. API is a holding company jointly-owned by the Dutch brewing giant and Singapore-based conglomerate Fraser and Neave.
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