China's largest CRT (Cathode Ray Tube) glass shell maker, Henan Ancai Hi-Tech, has plans to jointly invest around 2.2 billion RMB (US$265 million; US$1 = 8.3 RMB) with Zhengzhou Construction Investment Corporation to set up a new company to produce glass substrates for TFT LCD (Thin Film Transistor) panels. Construction for the joint-venture is expected to last two years. To be situated in the Zhengzhou National Economic & Technological Development Zone, the new production lines will have the capacity to output three million square meters of glass substrates per year for fifth-generation TFT LCD panels.