LCD panel plant to benefit TV producers | Shanghai Daily

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August 28, 2009

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LCD panel plant to benefit TV producers

Beijing-based BOE Technology Group Co plans to invest 28 billion yuan (US$4.12 billion) to build an eighth-generation LCD panel in Beijing, the most advanced flat panel display facility on the Chinese mainland, the Shenzhen-listed firm said yesterday.

BOE's facility is expected to benefit domestic TV makers which now depend on imported liquid crystal display panels from overseas, analysts said.

"It's a milestone in the domestic FPD and TV industry. It's the first time that manufacturers can use China-made LCD TV panels," said Joyce Yang, an analyst at SEMI, a United States-based IT consulting firm.

BOE's new plant will make panels for 26-inch to 55-inch TV sets. The construction of the facility will be completed within 26 months.

The plant is expected to generate an average annual output value of 100 billion yuan, according to BOE.

BOE has signed an agreement with Beijing International Trust Co, Beijing Yizhuang International Investment Co and Beijing Economic-Technological Investment & Development Corp to jointly invest in the project.

BOE will hold a 49.63 percent stake in the project while Beijing International Trust, a subsidiary of the Beijing government, will own 49.37 percent.

"It (the project) meets the market demand of large-sized LCD panels and it's in line with the country's strategic target to develop a FPD industry," said BOE in a statement to the Shenzhen Stock Exchange.

Firms in South Korea, Japan and Taiwan are building eighth-generation lines, according to analysts. The more advanced lines allow firms to make larger-sized LCD TV panels, experts said.

BOE's investment followed an announcement by South Korea-based LG Display Co on Tuesday that it would build an eighth-generation LCD plant in Guangzhou.

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