Foxconn International Holdings Ltd., a company in which Hon Hai Precision Industry Co., Ltd. holds a controlling stake, will invest US$500 million to build a LED factory in Jinan, Shandong, according to Jinan government and a local newspaper.
Last month, Shandong Provincial Government signed an agreement with Foxconn for the company's investment plan in the city, according to Jinan officials and Jinan Daily. And the LED factory was included in the plan. City officials said Foxconn executives had already examined the site of the Factory after concluding the agreement, while had yet to decide when to begin the construction.
The factory will be located at a high-tech industrial park in the city, and is planned to be focused on LED lighting, LED packaging and LED outdoor signages, according to the report.
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