Japan's TEL kicks off new plant in East China

09:12, January 20, 2011      

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Japan-based Tokyo Electron Limited (TEL) began construction of its Chinese joint venture in eastern Jiangsu Province on Tuesday.

The joint venture, Tokyo Electron Kunshan Limited, has a designed annual capacity of 500 sets of production equipments for flat panel display (FPD), solar and semiconductor products, with sales revenue up to 10 billion yuan ($1.5 billion).

According to the investment agreement jointly signed by TEL and Kunshan Economic & Technical Development Zone, where the joint venture is located, the project has a total investment of $400 million with a registered capital of $50 million.

First-phase investment will reach $150 million, with initial construction covering an area of 100,000 square meters, according to the agreement.

Kunshan, a city adjacent to Shanghai, has been designated by the Chinese government as a key FPD industry promotion base.

Set up in 1963, TEL is a leading supplier of semiconductor production equipment with a global network of about 90 locations in 15 countries in the United States, Europe and Asia.

Source: Global Times/Agencies
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