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LG Display Takes 70% of China JV, to Build $4b Plant
LG Display (NYSE:LPL) has signed a contract with the municipal government of Guangzhou, Guangdong province to establish a $4 billion LCD panel plant and a local joint venture, reports 163.com quoting an LG announcement on Tuesday.
LG Display intends to take 70% stake in the JV, which will have registered capital of $1.3 billion, while the remaining 30% will come from the Guangzhou municipality and a mainland partner, said the report.
Reports in late August said that LG Display had signed a non-binding memo of understanding with the local government to locate its 8th-generation LCD panel plant in Guangzhou.
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