China Huiyuan Juice has said it would plough around CNY5bn (US$761.6m) into the production of Juizee Pop over the next three years

China Huiyuan Juice has said it would plough around CNY5bn (US$761.6m) into the production of Juizee Pop over the next three years

China Huiyuan Juice Group is hoping that its new sparkling fruit juice brand will account for around one-fifth of its group sales by the end of 2012, according to reports.

Around ten facilities producing the recently-launched Juizee Pop beverage are expected to be up and running in the next two years, China Daily reported today (24 March). Annual capacity for the drink is expected to reach around 2bn bottles.

Current production volume of the new brand is minimal, the company has said.

Last year, Huiyuan said it would plough around CNY5bn (US$761.6m) into the production of Juizee Pop over the next three years in a bid to compete with the likes of The Coca-Cola Co and PepsiCo in China, the publication wrote.

Earlier this week, Huiyuan recorded a decline in profits for 2010. For the 12 months of last year, the group posted a 15% drop in profits to CNY198.3m (US$30.2m).