CHINA: Changyu Pioneer Wine Company to build US$944m "wine city" - report
Changyu Pioneer Wine Company has announced plans to build a new CNY6bn (US$944m) "wine city" by 2016, according to local reports.
The site in north China's coastal city of Yantai, will cover 413 hectares and includes a national grape and wine research insititute and wine production centre, according to chinadaily.com. Grape planting areas, an international wine trading center, a European-style village, and two high-end wine and brandy chateaus will also feature on the site.
The production centre will include 15 production lines, imported from Europe, covering 220,000sqm, making it one of the world’s largest wine and brandy production plants, it was also reported.
According to figures published last month, China is set to continue to dominate growth in emerging market wine sales over the next five years, with sales expected to rise 17% per year.
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