Kingway Brewery Holdings has signed an agreement with the Xi'an Economic & Technological Development Zone to develop a brewery in the city with an investment of some US$100m.

The Hong Kong-based brewing group made the announcement through a disclosure to the Hong Kong stock exchange, on which it is listed.

The Xi'an unit will have a brewing capacity of 200,000 tons per year.

Xi'an is the capital city of the Shaanxi province.