TCP announces new production base in Sichuan

Thailand's beverage company TCP Group announced on Tuesday it will invest a total of 2 billion yuan ($314 million) into its new production base in Southwest China's Sichuan province, as the company continues to beef up investment in the Chinese market.

The new production base is estimated to have a total production capacity of 1.44 billion cans a year. It will be equipped with five Red Bull production lines, along with the company's most advanced production and operational system.

Saravoot Yoovidhya, CEO of TCP Group, said via a video speech the company is dedicated to being "In China and for China" and fully committed to continue delivering positive and meaningful contributions to the country's development.

"As we announced at the beginning of 2020 our commitment to invest more than 1 billion yuan in China over the next three years, this exciting new investment in Neijiang forms an important part of those plans and will play a key role in significantly expanding our company's presence in the Chinese market," he said.

The Sichuan factory will be located in the Neijiang Economic and Technological Development Zone and will be the company's largest beverage factory in the country.

Li Dan, mayor of Neijiang, said: "The construction of TCP's Red Bull Drink (Sichuan) Production Base will play an important role in helping to strengthen the competitiveness of Neijiang's food and beverage industry and further accelerate its high-quality development."