Exhibit 99.1
SkyPeople Fruit Juice Signed a
Letter of Intent with
Liaoning Government for Fruit and
Vegetable Processing Project
XI'AN, China, July 21, 2011
/PRNewswire-Asia-FirstCall/ -- SkyPeople Fruit Juice, Inc. (NASDAQ:
SPU) (together with is direct and indirect subsidiaries,
"SkyPeople" or the "Company"), a processor and manufacturer of
kiwifruit, apple, pear and other concentrated specialty fruit
juices and manufacturer of Hedetang and Qin Mei Duo-branded fruit
beverages in the People's Republic of China ("PRC" or "China"),
today announced that it signed a Letter of Intent with the
People’s Government of Suizhong County, Liaoning
Province, to establish a fruit and vegetable industry chain and
further processing demonstration zone in Suizhong County, Liaoning
Province (the “Suizhong project”). The
Suizhong project is one of the projects promoted by Liaoning
government in its efforts to further develop the agricultural
product processing industry in Liaoning.
The Suizhong project may include one or more of
the following: the construction and operation of fruit juice
production lines, vegetable and fruit flash freeze facility,
refrigeration storage facility and warehouse, a world class food
safety testing center, fruit and vegetable modern supply chain and
e-commerce platform, fruit and vegetable finished products
processing center and exhibition center, etc. The
implementation of the project is subject to further feasibility
study, including environmental study, government approval of the
project (based on the feasibility study), successful bid to obtain
land required for the project, the Company's ability to fund the
project based on the size and scope of the project as determined
though the feasibility study and he entry into definitive
agreements among the parties involved in the projects.
Upon entry into the letter of intent, the
Company intends to conduct a detailed and comprehensive feasibility
study of the Suizhou project with a qualifi