British American Tobacco has announced that it has won approval
from the Chinese government to build a US$1.5 billion joint venture
in China with a local partner, the first time a western cigarette
producer enters the huge Chinese markets.
The British firm said that the green light comes after years of
negotiations with the Chinese government and its Chinese partner is
China Eastern Investments Corporation.
The factory, which would be the British firm's largest factory
after completion in two years, will have a capacity of producing
100 billion cigarettes a year.
It said the factory would manufacture its traditional brands
including State Express 555 and Kent.
(CRI July 17, 2004)
