BEIJING (Reuters) – Starbucks will invest 900 million yuan ($130 million) to build the first phase of a coffee complex in the Chinese city of Kunshan, near the commercial hub of Shanghai, with completion targeted for 2022, it said on Friday.
It is Starbucks’ largest investment in a production facility outside the United States and the first production-related investment in Asia, the U.S. beverage chain said in a statement.
The complex, sprawling over 80,000 sq. m (95,679 sq. yards), will include coffee roasting facilities and smart warehouses.
(Reporting by Sophie Yu and Brenda Goh; Editing by Clarence Fernandez)
