Wuzizui Food Co to build new production base in Xiangxiang
The Xiangxiang Economic Technological Development Area (ETDA) signs a cooperation agreement with the Hunan Wuzizui Food Co on May 4. [Photo/xiangxiang.gov.cn]
Wuzizui plans to build a new betel nut production base in the Xiangxiang ETDA. [Photo/xiangxiang.gov.cn]
The Hunan Wuzizui Food Company recently signed an investment agreement in the amount of 200 million yuan ($28.97 million) to build a new areca nut production and packaging base in Xiangxiang, Central China's Hunan province.
Zhou Junwen, mayor and deputy Party secretary of Xiangxiang, said at the ceremony that Xiangxiang is a cultural and historical city, with kind local residents and efficient government service environment. It is an ideal destination for business investment. The city will spare no efforts to support the company with its preferential policies, project construction, government service and public security.
Originally established in 1996, Wuzizui is a betel nut production enterprise integrating food research and development, processing and sales. The company has more than 6,000 staff members, and currently pays annual tax revenues exceeding 30 million yuan.
To meet market demands and further develop, the company has invested 200 million yuan to build a 60-mu (40,000 sq m) betel nut produce and packaging base in Xiangxiang, which will provide another 3,000 job vacancies after the base’s completion, increasing by more than 4.8 million yuan in annual tax revenue.