Tingyi's instant noodles could become the most widely sold brand in the world. (File photo/Xinhua)
Tingyi (Cayman Islands) Holdings, a food processor based in China run by Taiwanese entrepreneurs, began the construction of new factories in Xi'an Tuesday to meet growing demand, a Chinese news agency reported Wednesday.
Tingyi will invest US$220 million in the new complex in the Xi'an Economic and Technological Development Zone, with the facility's output value expected to reach 3.5 billion yuan (US$550.2 million) a year, the official news agency Xinhua reported.
The 31-hectare industrial complex will include one plant to produce the company's signature Master Kong-brand instant noodles and another factory that will mainly manufacture cardboard boxes, said Huang Tzu-chiang, the general manager of Xi'an Tingyi Food.
The instant noodle production line is expected to become the biggest of its kind in Asia.
The report noted that at full capacity, the facility could generate 290 million yuan (US$45.6 million) in tax revenues for China a year.
The Xi'an government has set up a special area for Taiwanese businesses in the Xi'an Economic and Technological Development Zone to attract more investment, the report said.