Business / Companies

Kweichow Moutai to invest more for airport construction

( Updated: 2012-12-21 16:58

China's largest baijiu liquor producer by market value, Kweichow Moutai Co Ltd, is adding to its airport construction investment portfolio, the National Business Daily newspaper reported on Friday.

The company is likely to cover 70 percent of the construction cost of a civilian airport in Renhuai, Guizhou province, in Southwest China, the report said, adding that the projected building expenses were close to 1.4 billion yuan ($225 million).

Moutai has its headquarters in the city.

The new airport was approved by the State Council, China's cabinet, on Wednesday, and is expected to start operating before June 2015, the local government said.

A government press release said: "The airport will boost liquor-making, mining and tourism industries for the city."

Moutai earlier invested more than 1 billion yuan in Guiyang airport, the only aviation hub for the provincial capital.

The company holds about 30 percent of the shares in Guiyang airport, which expects to handle about 8.5 million passengers this year.


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