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Shanghai Tobacco (Group) Co invests US$730m for new line

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Shanghai Tobacco (Group) Co yesterday started the construction of a new production line specifically for its Chung Hua cigarette.

Investment in the new production line will be 5 billion yuan (US$730 million) and will have an annual capacity of 50 billion cigarettes after its completion.

The project is one of the major construction projects in the city.

Tax contribution from the new production plant will be more than 50 billion yuan and will provide more than 500 jobs.

(Shanghai Daily November 27, 2008)

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