NEC announced that it established a JV with Shanghai SVA. The JV, Shanghai SVA NEC Liquid Crystal Display, has a total invested capital of US$460.6m and will develop and produce TFT-LCD panels and modules. The panels and modules will be aimed at use in monitors and televisions in the Chinese market.
The JV will build a US$785.9m fabrication plant in Shanghai which is scheduled to open in October 2004. Once completed, the plant will be the first mainland facility capable of all aspects of TFT-LCD production.