China Resources Breweries Ltd (CRBL) is to buy the bankrupt Zhijiang Jingxing Breweries. The acquisition increases CRBL's total of Chinese production bases to 39.

CRBL said that the purchase will cost CNY100m (US$12.1m). The brewery will become CRBL's beer production base in Yichang and will have an annual production capacity of 100,000 tons.

Zhijiang was founded in 1987 with an annual capacity of 50,000 tons. It went bankrupt in August last year.

CRBL will invest CNY50m into Zhijiang this year, with another CNY50m being pumped into the project once production begins in July.