(Yicai Global) March 2 -- Anhui Gujing Distillery's shares gained after the well-known liquor maker said it will invest CNY8.9 billion (USD1.3 billion) in an intelligent technological park that will improve production quality and integrate the tourism and cultural sectors.

The Haozhou, Anhui province-based company's stock price [SHE:000596] rose 1.6 percent today to close at CNY124.25 (USD17.80). The benchmark Shenzhen Composite Index advanced nearly 3.7 percent.

The project, which has been given the green light by the board but awaits shareholder review, will put pressure on the future cash flow, the company added.

The smart plant will combine liquor brewing, distiller's yeast production, liquor storage facilities. Construction is expected to take five years and the base should be in full production by December 2024.

Editor: Kim Taylor