Asia Express - Display
China Grants Approval to LG, Samsung for Construction of LCD Plants
November 12, 2010
The Chinese government has approved the investment projects proposed by Korean LG and Samsung in setting up LCD (Liquid Crystal Display) plants in China, according to a November 5, 2010 report by Reuters. It is reported that LG has entered into an US$4 billion agreement with the local government of Guangzhou City, located in Guangdong Province, for establishing a 8G LCD panel plant last year. Meanwhile, China also approved Samsung's plan on building a 7.5G LCD manufacturing factory in Suzhou, Jiangsu Province. Submitted at the beginning of 2010, it is projected that Samsung's LCD investment scheme is estimated at 2.6 trillion Won (US$2.33 billion; US$1=1113.3 Won).