New Leaf Tobacco Redrying Enterprise to be Built in South Central China

Source from:  Hunan Daily newspaper 01/14/2008

A new large leaf tobacco redrying enterprise with an annual production capacity of 500,000 dan (25,000 tons) - Changde Furong Leaf Tobacco Redrying Co., Ltd. - will be built in Changde City of south central China's Hunan Province, which is the manufacturing base of high-quality cigarettes of the well-known Furong (Hibiscus) brand family. On January 9, 2008, an agreement was signed with the local government on the establishment of the leaf tobacco redrying enterprise in the Guanxi Industrial Park of Dingcheng District in Changde City, with a total investment of 188 million yuan (25.75 million U.S. dollars) to be jointly extended by Hunan Provincial China Tobacco Industry Corporation and Changde City and Zhuangjiajie City Tobacco Monopoly Administrations. With is controlling stake to be held by Hunan Provincial China Tobacco Industry Corporation, Changde Furong Leaf Tobacco Redrying Co., Ltd. will cover a total area of 240 mu (16 hectares), and is expected to generate 150 million yuan (20.5million U.S. dollars) in annual output value, including 88.15 million yuan (12 million U.S. dollars) in processing income, with the amount of annual taxes and profits expected to reach 46.8 million yuan (6.4 million U.S. dollars). The establishment of the leaf tobacco redrying enterprise is reported to be in conformity with the relevant industrial policy of the State. When constructed, Changde Furong Leaf Tobacco Redrying Co., Ltd. is expected to play a major role in promoting and leading the development of the tobacco growing business in the areas in its vicinity, improving the quality of cigarette products of the Furong brand family and promoting local economic growth. Enditem