Tianjin is expected to build the world's largest animal cloning factory next year for the cloning of beef and dairy cattle, dogs and racehorses, a leader in the stem cell and biological medicine industry said on Monday.

Boyalife Group Ltd said that 200 million yuan ($31.3 million) will be invested in the factory after its subsidiary, Yingke Boya Gene Technology (Tianjin), signed an agreement on the project with the Tianjin International Joint Academy of Biotechnology and Medicine, the Sooam Biotech Research Foundation of South Korea and the Tianjin Economic-Technological Development Area.

The factory will include a 15,000-square-meter laboratory, an animal center, a gene bank and a science and education exhibition hall, it said.