Chinese Irico Group has signed a deal with the local government to build a 5G TFT-LCD (Thin Film Transistor Liquid Crystal Display) glass substrate plant in the Qindu district of Xianyang City with a total investment of 1.3 billion RMB (US$162.9 million; US$1 = 7.9 RMB). In the initial phase, Irico Group will invest 688 million RMB (US$86.2 million) in setting up a 5G glass substrate production line using the fusion method. Construction is slated to begin in the third quarter of 2006 and will last for 15 months. The new facility is expected to yield 520,000 units of 5G glass substrates per year.