March 13, 2020 / 5:42 AM / a month ago

Starbucks to invest $130 mln for roasting plant in China's Kunshan

BEIJING, March 13 (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)

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