Cup Noodles maker gets grant to establish smart production line
Nissin Foods, the company behind Cup Noodles and Demae Iccho, has been granted HK$15 million to create a new smart production line for instant noodle products.
Innovation and Technology Commission said on Tuesday that the Re-industrialisation Funding Scheme had approved the amount for establishment of a new production line at Tai Po Industrial Estate.
The project will cost a total HK$54 million, and the manufacturer will contribute about HK$39 million.
Advanced manufacturing technologies and smart elements including automation, robotics and smart sensors will be adopted to fully automate the production of instant noodles, enhancing production efficiency and capacity.
The Re-industrialisation Funding Scheme provides funding on a 1 (Government): 2 (company) matching basis to subsidize manufacturers to establish smart production lines in Hong Kong.
The funding ceiling is one-third of the total project cost or HK$15 million, whichever is lower.
Since the launch of the scheme in July last year, the commission has received 27 applications and assessed 18 of them.
It gave support in principle to 16 projects, covering industries such as biotechnology, food manufacturing and processing, construction, printing, medical devices and nanofiber materials. The total funding amount is about HK$108 million.