Chinese juice maker Huiyuan to foray into grape wine business

China-based juice producer Beijing Huiyuan Juice Drinks Food plans to enter into the grape wine business with an investment of around CNY500m ($79.15m).

Initially, Huiyuan Juice will invest CNY200m ($31.6m) to grow 333ha of grapes in Liuhe county to produce 3000 tons of grape wine, reported Hexun.com.

The company will also open an agricultural industrial park including a 'chateau' for tourists and aims to produce 10,000 tons of grape juice a year.

The total output value of Huiyuan's grape and juice business is expected to reach CNY600m ($94.94m), reported the website.

In addition, the company is seeking new sources of profitability under the current weak juice industry market.

Huiyuan produces fruit juice and vegetable juice, nectars, bottled water, tea and dairy drinks.