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Dalian-HK Joint Venture to Produce Digital Video-Phone
Dalian Development and Construction Group has signed a contract with Hong Kong-based MATSUNICHI-International Holding Ltd. to jointly build a digital video phone production base.
According to the contract, the Hong Kong venture will invest 25 million US dollars in building the production base in Dalian Economic and Technological Development Zone in coastal Dalian, located in northeast China's Liaoning Province.
Under the agreement, the Dalian Construction and Development Group will buy shares of the Guangdong MATSUNICHI Telecommunications Science & Technology Corporation funded by the Hong Kong group.
The annual digital video-phone production capacity of the joint venture is expected to reach 500,000 after the venture becomes operational.
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