It is built up with low-end components, and my experience is that low-end stuff breaks down more often. You don't need the very best, but somewhere in the middle like Deore or LX. Low-end Formula hubs and cheap Alex rims are probably not the most durable combo.
The frame might be tough enough, but I can't tell if it has braze-ons for attaching front and rear racks along with the fenders.
My impression is that you'd be getting a bike equal to the cheap mtb you already have. Might be better to save up for the touring bikes from REI, Bianchi, Fuji, etc.