Re-industrialisation Funding Scheme funds project to set up smart production line for fresh liquid egg products

     A spokesperson for the Innovation and Technology Commission (ITC) said today (January 25) that the Re-industrialisation Funding Scheme (RFS) had approved funding of $14.9 million for a project to set up a new smart production line for the production of fresh liquid egg products in Hong Kong by a local food manufacturer, Luen Tai Hong Kong Fresh Liquid Eggs Limited. The new smart production line will be set up in Tai Po InnoPark.
 
     Speaking at the signing ceremony of the funding agreement, the Commissioner for Innovation and Technology, Ms Rebecca Pun, said, "We are glad that the food manufacturing and processing industry is making use of the RFS fund to set up a new smart production line in Hong Kong. The parent company of the funding recipient today, Luen Tai Hong, was established in 1957, and is currently a key local supplier of fresh liquid eggs for many restaurants and food manufacturers in Hong Kong. We look forward to receiving applications from more manufacturers for the RFS to develop smart production and strengthen the 'Made in Hong Kong' brand".
 
     The approved total project cost is about $45 million and the manufacturer will contribute about $30 million. The project will adopt smart manufacturing technologies with a view to achieving smart production of fresh liquid eggs, which in turn enhances production efficiency and capacity. The project is expected to increase the daily production of fresh liquid eggs by two to three times, while lowering the production cost by 20 per cent to 30 per cent.
 
     Under the RFS, the Government will provide funding on a 1 (Government): 2 (company) matching basis to subsidise manufacturers to establish smart production lines in Hong Kong. The funding ceiling is one-third of the total project cost or $15 million, whichever is lower. Since the launch of the RFS in July 2020, the ITC has received 35 applications. Among the 25 applications assessed by the RFS Vetting Committee, 21 were supported in principle, covering sectors such as biotechnology, food manufacturing and processing, construction, printing, medical devices, nanofiber materials, product accessories and health products. The total funding amount is about $153 million.
 
     The RFS is open for application throughout the year. Details are available at the Innovation and Technology Fund website (www.itf.gov.hk/en/funding-programmes/facilitating-technology/rfs). For enquiries, please contact the RFS Secretariat (Tel: 3655 5678; email: rfs-enquiry@itc.gov.hk).