CHINA – Vitasoy International Holdings Limited has said that it will invest US$154 million (HKD1.21 billion) in a new manufacturing plant in Changping, Guangdong, China.
The investment will include the price for land use right and the estimated cost of construction and production equipment of the new plant.
Set to be completed in 2021, the new Dongguan plant will be constructed on a 100,000 square meters’ land with production expected to begin the same year.
The company said it will be its largest production base in Mainland China.
“Mainland China is now our biggest and fastest growing market. The new Dongguan production base will be Vitasoy’s biggest plant, but our commitment and determination goes beyond scale.
The new plant will also provide us with adequate production capacity to support our future expansion,” said Mr. Winston Lo, Vitasoy executive.
“We are determined to grow a healthy and sustainable business which can represent a model for the future and can contribute to the health of the communities we serve in Mainland China.”
The new plant will be designed and built based on LEED (Leadership in Energy and Environmental Designed) Gold certification standards by the US Green Building Council to support Vitasoy’s commitment to sustainable development and efficient use of resources.
The new facility will significantly expand the production capacity of the company’s plant-based food and beverage products, which are available in 40 markets worldwide.
Vitasoy has manufacturing operations in Hong Kong, Mainland China, Australia and Singapore with a portfolio including dairy-free beverages such as soya milk, and tofu, marketed under its own brand name.
The company said it strives to promote sustainable nutrition through provision of a variety of high-quality products with nutrition, taste and sustainability as the guidelines for its portfolio offerings.
