Taiwanese display manufacturer Groundjay announced that the company has signed a cooperation agreement with Beihai Municipal Government of Guangxi Province, China on April 9, 2011 for display production, according to the Commercial Times of Taiwan. The agreement is valued at US$60 million. It is reported that the new plant will focus on LCD (Liquid Crystal Display) display, LCD TV, and component R&D, production, sales, and maintenance services. Production is slated for September this year. The Beihai plant is projected to manufacture more than 1.5 million displays in the first year, and it aims to churn out over five million units in three years.