Mini LED and Other Production Lines to Be Established at Huaihua in Hunan, Totaling an Investment of RMB 2.5 Billion

As reported on 0745news.cn, on the morning of June 23, the 2021 Second Groundbreaking for Major Construction Projects and the Tunghsu Group Singing Ceremony was held at Huaihua, a city in Hunan Province, China. During the signing ceremony, the Huaihua government and Tunghsu Group signed an agreement on a two-phase project of establishing Hunan Optoelectronic New Material Industrial Park.

Image source: 0745news.cn

The industrial park project will be located at the Huaihua Hi-Tech Industrial Development Zone with a total investment of RMB 2.5 billion (USD 387 million). Occupying an area of 300 mu (20 hectare), the industrial park will have two new production lines with various warehouses and facilities; the size of these buildings totals 128,133.84 m2. Specifically, the building area in the first phase is 54,713.12 m2, where production lines of Mini LED backplanes and high-end glass protectors for electronic goods, as well as related facilities will be established. In the second phase, buildings totaling 73420.72 m2 are to be built, while the first-phase production lines and capacity will be expanded.

Establishing the Hunan Optoelectronic New Material Industrial Park is a two-phase project that is highly valued by the Chinese government. The technology-intensive project, scheduled to be completed by 2025, is expected to attract high-tech talents to Huaihua. After being put into operation, the industrial park can annually generate a revenue of RMB 2.1 billion (US$75.3 million), an average rate profit of RMB 488 million (US$17.5 million), and a tax revenue of RMB 135 million (US$4.83 million) with 786 new jobs.

(Summarized by LEDinside)

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