Tsingtao Brewery Co. Ltd is the 6th largest beer producer in the world. Photo from China.org.cn

Tsingtao Brewery Co Ltd, the 6th largest beer producer in the world, is going to invest 2 billion yuan ($317.14 million) to build a beer production base in Lushan district, according to the government of Lushan district in Jiujiang city on Mar 8. The output of the base can reach 600,000 kiloliters per year.

Jiujiang will become the 61th producing base of Tsingtao beer. Covering an area of 20 hectares, the construction of the first phase is expected to start in May and finish in the first half year of 2013. The annual sales income can reach 600 million yuan ($95.1 million) and the annual tax can reach up to more than 400 million yuan ($63.4 million).

Being a famous tourist city, Jiujiang attracts a large amount of domestic and foreign tourists every year, which gives it great potential as a high-end beer market. Having Tsingtao Beer settle down in Jiujiang can therefore help meet the needs of the growing market. Tsingtao Brewery Co Ltd aims to get its sales up to 10 million kiloliters by 2014, a source said.

Edited by Chen Zhilin

Source: China.org.cn