(Yicai Global) Dec. 18 -- Four McDonald's suppliers and China Fortune Land Development will build a CNY1.5 billion (USD229.3 million) industrial park in central China's Hubei province to strengthen the fast-food chain's supply chain in midwestern China.

The McDonald's Hubei Supply Chain Smart Industrial Park, which covers food production, packaging, and cold chain logistics, should be ready by 2023, McDonald's China announced today. The venue, which covers more than 300,000 square meters, should reach an annual output value of nearly CNY1.5 billion.

The food company's supply chain in midwestern China should be further enhanced by the industrial park, according to the same statement.

McDonald's is looking to operate 1,000 restaurants in midwestern China by 2023, said Chief Executive Cheung Ka Yan. It currently has 600 outlets in the region that includes key cities such as Chongqing, Chengdu, and Wuhan.

McDonald's China plans to have more than 4,500 restaurants in the mainland by 2022.

Editor: Emmi Laine