Vinda held a groundbreaking ceremony for its Beijing factory on Sep 19th. Chairman of the Group Li Chao Wang, leaders from China Paper Association, Pinggu district and industrial park attended the ceremony. Situated in the industrial park of Pinggu district, the Company is going to cover an area of 100 mu with a planned capacity of 100,000 tons. A total of 60 million investment has been poured in to the building project. It is expected to be on stream by May 1st, 2003, achieving and estimated annual sales of 150 million RMB. The project marks a significant step for Vinda to become more international, grow bigger and achieve greater sales. By now, Vinda has established production bases across China, building a good platform for future development.