LG’s planned Guangzhou display-panel factory will be 30% owned by joint-venture partner Guangzhou-Kaide Technologies Development Co., sources close to the matter told Caixin. LG announced Tuesday that it will build a facility to produce large-panel organic light-emitting diode (OLED) displays in Guangzhou’s Economic and Technological Development Zone. LG’s official announcement said it was providing 70% of a 15.7 billion yuan ($2.33 billion) investment in the factory, but did not specify who will provide the remaining amount. The project will eventually involve a total investment of about 45 billion yuan, or $6.7 billion, people close to state-owned Guangzhou-Kaide told Caixin. The display panels will be used in TV screens and electronic billboards, LG said. Set up in 1998 to operate the Economic and Technological Development Zone, Guangzhou-Kaide holds a 20% stake in LG’s existing display-panel plant in the development zone, which produces liquid crystal display (LCD) panels.
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