(Yicai Global) Aug. 16 -- Sichuan-based liquor maker Luzhou Laojiao Co. [SHE:000568] plans to build its own tourism attraction in the wake of competitors Kweichow Moutai Co. [SHA:600519] and Wuliangye Yibin Co.

The firm plans to spend CNY397 million (USD59.4 million) to purchase Fenghuan Campus at Luzhou Laojiao Tianfu High School in order to upgrade its Guojiao Plaza Tourism Industrial Park.

China's liquor companies have been competing to expand in recent years, with cultural investment and branding at the forefront, Zhu Danpeng, a senior researcher at China Brand Research Institute, told Caixin.com.