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).