Hon Hai to Invest NTD30 Billion in Optoelectronics Project in Xiamen

Terry Guo, Chairman of the Taiwan-based electronics manufacturer Hon Hai Group, has announced that the company will invest NTD30 billion to build an industrial park in Haicang, Xiamen, in 2009, aiming to establish an optoelectronics industry cluster in the city.

Guo signed the cooperative agreement with the municipal government of Xiamen early in 2008 to set up an optoelectronics project in Xiamen. The Xiamen government revealed that apart from the optoelectronics project, Hon Hai's several other projects in Xiamen are also under discussion. Of these projects, the first phase of the high end optoelectronics project will cover an area of 800,000 square meters and hire 40,000 workers.

In addition, Qunkang Technology Xiamen, which is a project invested by Hon Hai's subsidiary Innolux, has been registered in Xiamen with an initial investment of USD55 million and the company is expected to put it into production soon, said the management committee of Xiamen Torch High-tech Industrial Development Zone.

The preferential policies launched by the mainland government are the main factors that promote Hon Hai's distribution in the market. So far, Hon Hai Group has entered about 17 mainland cities. Guo once said that following the steps of their clients, Hon Hai is actively implementing its worldwide distribution. At present, mainland China has become an important manufacturing base for Hon Hai and the markets of India, Russia, and Brazil are also its new investment targets in recent years.

Source: China Tech News