The board of directors of Nissin Foods Company Limited announced that the Company would invest approximately HKD 194 million in consolidation of production facilities and investment in installation of new smart production lines (the ``Proposed Investment'') in production plants located at Tai Po Industrial Estate, Tai Po, New Territories, Hong Kong. The Company regularly reviews its asset utilisation and efficiency of its production facilities. The installation of new smart production lines would equip with the advanced production technologies and incorporate automation for achieving enhancement in productivity and management efficiency and better quality control. The consolidation of production facilities also allows for a flexible manufacturing system with an ability to produce a variety of products and provides additional areas for warehousing. The construction period of the Proposed Investment would complete by 2023. The Board believes that the Proposed Investment is in line with the Company's business development strategy to maintain its leadership position in Hong Kong. The Company is committed to investing in a variety of businesses to keep up with the sustainable growth. The integration of the advanced technology into the manufacturing process can reduce the cost of production in the long run.