Yantai North Andre Juice (HKG:2218, SHA:605198) signed a letter of intent for a project cooperation for a planned juice processing production line, according to a Shanghai bourse disclosure on Monday.
The concentrated fruit juice maker plans to invest 160 million yuan to construct a juice processing production line that will produce 120,000 tons of apple and pear juice annually, with an estimated annual output value of 200 million yuan.
The LOI was signed with the local government of China's Suizhong County.
Under the LOI, which is valid for eight months, the local government will assist the company in project filing, environmental production, land and other needed approvals for the project.
The company's Shanghai and Hong Kong shares rose 2% during Monday's midday trade.
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