Budweiser APAC has announced a new investment worth $24.76 million in Putian, Fujian province to build a craft brewery in the city and expand its in-use brewery with an additional capacity of 20 million hectoliters.

"We made this strategic move driven by the growth and recovery of China and the strong consumer needs in the high-end beer segment," said Jan Craps, co-chair and CEO of Budweiser APAC.

"With strong support from the local government and the industry cluster in Putian, we are excited to build the craft brewery with our continuous investment in research and development," he said.

The new craft brewery is set to provide consumers with more diversified high-end beer options.

The investment will also increase the capacity of Budweiser's Putian brewery, which is said to be the largest brewery in Asia and has the largest grid-connected distributed photovoltaic plant in the beer industry across China.