(Agencies)
Updated: 2008-01-10 16:06

South Korea's Hyundai LCD Inc will set up a plant in the Tianjin Economic-Technological Development Area (TEDA) in northern China, investing an initial $31 million, TEDA said in a statement on its website.

Output of the LCD facility is expected to be worth 600 million yuan ($82.53 million) in 2008 and 1.2 billion in 2009.

The plant's output value is expected to exceed 2.4 billion yuan in three to five years, with investment levels at $200 million, it said.

Hyundai LCD is South Korea's third largest producer of high-end LCDs.