Pacific Andes (1174) to inv $200-300M for factory in Qingdao

Ng Joo Siang, Managing Director of Pacific Andes International Holdings Limited (1174), said after the general meeting today that the company has entered into a letter of intent with the authorities of Qingdao to purchase a 500 acres lot for constructing a food processing factory. The land price is expected to be somewhere between RMB10 million-RMB20 million. The total investment will be about $200 million to $300 million of which the first-phase investment amounts

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