RESTRICTED
Holiday Inn and Pepsi Cola Invest in Shenzhen.
8.
Holiday Inn has agreed in principle to build a US$30 million 500-room hotel in Shenzhen and newspaper reports have predicted that contracts will be exchanged
soon.
9.
Pepsi Cola is building a US$7.5 million bottling plant in Shenzhen which is expected to be producing one million cases. of the soft drink annually by the end of the year. The product is for export and for sale only in the Special Economic Zone. The Company's rival, Coca Cola, which has already opened a bottling plant in Peking, was also offered a site in Shenzhen but this was declined.
Zhonghong Oxygen & Acetylene Plant (Shekou) To Open Soon
10. Wen Wei Po said on 20 July that Zhonghong will begin production in about a month's time. The HK$10 million joint venture will be capable of producing some 800 cubic metres of oxygen an hour when it is fully operational by the end of
the year.
The steel and aluminium industries in the Special Industrial Zone at Shekou will be the principal buyers with surplus products being exported to Hong Kong:
11.
China Resources Company (CRC) Opens Oil Equipment Buying Centre
According to a spokeman for CRC on 13 July, the Company had recently set up a buying unit in Hong Kong to specialise in the purchase of drilling equipment, plant and other instruments. He said that Hong Kong had been chosen for its well developed communication. and transportation facilities.
RESTRICTED
712.