One of the world's beer giants might build a new brewery in the Fraser Valley.

The Chilliwack Progress has reported that Molson Coors Canada is looking at a site in Chilliwack.

According to spokesperson Alex McMillan, it's the "preferred location" and the newspaper reported that there are already rezoning signs for seven agricultural properties along Elder Avenue.

Last year, Molson Coors Canada promised to build a new brewery in B.C. after announcing last year that it had sold its three-hectare site on the southeastern end of the Burrard Brudge in Vancouver.

The Burrard Street property has been home to a brewery for more than 50 years. 

Earlier this year, it was revealed that real-estate developer Concord Pacific paid $185 million for the land, which is zoned industrial.