Chinese juice maker Huiyuan Group has announced plans to invest CNY300 million to build a juice facility in Shanxi's Yangling Agricultural Hi-tech Industries Demonstration Zone.
Since the second half of 2008, Huiyuan has invested CNY2 billion in building juice facilities across China. In September 2008, the company announced that it had reached an acquisition agreement with Coca Cola and if the acquisition could be realized, Huiyuan would focus on the development of these juice facilities in the future.
However, the acquisition was rejected by China's Ministry of Commerce and Huiyuan immediately stopped the construction of these juice facilities, recouped its funds, and shifted its focus to the development of new products and marketing.
Under the agreement between the management committee of Yangling Agricultural Hi-tech Industries Demonstration Zone and Huiyuan, the construction of the juice facility project will be started at the end of June 2009 and is expected to be put into production by February 2010.