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A new instant-noodle joint venture, Hebei Santaizi Co Ltd, was founded in Xingtai, North China's Hebei Province, on Friday.
The Tianjin-based Dingyi International Food Corp Ltd, a subsidiary of the Taiwan-based noodle giant Master Kong, injected 300 million yuan (US$36 million) in cash into the venture and the Hebei Zhongwang Group chipped in its existing assets, which are estimated at 300 million yuan.
The two companies signed an agreement on Friday in Beijing. Wang Zhongwang, president of the Zhongwang Group, said the Chinese mainland instant-noodle market has a great potential.
Editor: Li Guixiang. |
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