Sprizzi Drink Co, a beverage company headquartered in California, plans to invest $100 million into the Rugao Economic and Technological Development Zone in Rugao, a county-level city in Nantong, East China's Jiangsu province, to fund a beverage machine project.
The company has spent five years developing multi-functional beverage machines, and the Rugao project will mainly focus on manufacturing such machines.
Ma Jinhua, deputy secretary of the Party working committee of the development zone, and Michael, chairman of Sprizzi, attended the launch ceremony in Rugao on April 8.
The first phase of the project, costing $30 million, is expected to achieve an annual production value of more than 200 million yuan ($29.8 million).
The project is the company's only manufacturing base in China, and it is expected to be able to manufacture around 2 million machines annually.
In recent years, the Rugao Economic and Technological Development Zone has been making efforts to attract foreign investment, and the Sprizzi project is the 20th United States-funded project in the zone. It is expected to help boost industrial development in Rugao, said Ma.
A launch ceremony for the beverage machine project funded by Sprizzi Drink Co is held in Rugao, Nantong, Jiangsu province, on April 8. [Photo/rgedz.cn]
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