GUIYANG, Dec. 24 (Xinhua) -- China's top liquor brand Kweichow Moutai Tuesday launched 12 new projects with a total investment of 15.8 billion yuan (around 2.25 billion U.S. dollars) for high-quality development.
The projects include a packing plant with a capacity of 80,000 tonnes of Moutai liquor, a warehouse that can store up to 30,000 tonnes of alcohol, and an organic sorghum planting base in Guizhou Province.
"We aim to build a batch of infrastructure projects with long-term benefits, boost the growth of Moutai and achieve high-quality development," said Li Jingren, general manager of Kweichow Moutai Group.
In September, the group announced that it would build 30 key projects with a planned investment of 60 billion yuan in the following three years.
Kweichow Moutai Group Chairman Li Baofang said the company is expected to increase its flagship liquor production to 56,000 tonnes with the completion of a plant expansion project in 2020. Currently, the production capacity for the liquor was nearly 50,000 tonnes.
Li added that his company will also increase the production capacity of Moutai's sub-brand series to 56,000 tonnes in 2021, after the completion of another plant expansion project.
Moutai is a sorghum-based spirit produced by Kweichow Moutai and is China's top brand of baijiu (white alcohol). The liquor, often served on official occasions and at state banquets, is considered a luxury item and has long been a popular gift.
Kweichow Moutai saw its sales revenue jump by 16.64 percent year on year to more than 60.93 billion yuan in the first three quarters of this year.