国内英语新闻: Foxconn's 8.8 bln USD plant breaks ground in Guangzhou

GUANGZHOU, March 1 (Xinhua) -- Tech giant Foxconn started construction of a liquid-crystal display (LCD) plant in south China's Guangzhou city Wednesday, with an investment of 61 billion yuan (8.8 billion U.S. dollars) for the first phase.

The project in Zengcheng district covers an area of about 1.5 sq km, scheduled to be completed in June 2019. It is designed to produce 10.5-generation 8K displays, smart TVs and electronic whiteboards, among others.

The annual production value is estimated to reach 92 billion yuan. The project will provide 6,000 to 10,000 technical jobs.

The plant is expected to attract more than 70 upstream and downstream companies in the industrial chain to invest in Guangzhou, said a Zengcheng district official.