Zhoushan Xinyuehai Food Co signed an agreement to build a 150-million-yuan ($20.66 million) prefabricated food facility in Putuo district, Zhoushan, East China's Zhejiang province, on Sept 28.

The facility, which will mainly function as a headquarters for research, production, and supply chains of the Chinese-style ready-to-eat seafood dishes and high-end frozen ready-to-eat food products industry, is expected to generate an annual output value of 150 million yuan and pay 12 million yuan in taxes.

The facility results from authorities' efforts to tap into the district's fishing resources by developing the pre-made dishes industry. The district has attracted another 2-billion-yuan prepared dishes project this year.

The facility will also establish a food research and development center that will play a significant role in advancing upgrading of prepared dishes and bolstering the district's seafood processing sector, according to authorities.