Samsung LED, a light-emitting diodes (LED) company of the global electronics giant Samsung, has set up its first overseas manufacturing base in north China's port city Tianjin.
The base, Tianjin Samsung LED Co., Ltd, was established with a starting capital of US$30 million, according to the Tianjin Economic-Technological Development Area (Teda) Administrative Commission.
Commission spokesman Zhang Liang said Saturday initial investment to the Tianjin manufacturing base would reach US$90 million.
He said the company had just finished registry with the local government in Teda, but it was not clear when the base would be constructed and begin production.
The base would be dedicated to the making of LEDs, a new generation of lighting source that excels traditional light sources, as it is less energy-consuming and long-lived, and improves image contrast and display.
LEDs are used in a wide range of products such as LCDs, mobile telecommunications devices and lighting equipment.
Samsung has so far invested in 11 manufacturing companies in Teda, with an overall investment of US$1.6 billion . Tianjin takes about one third of the group's investment portfolio in China.
As north China's biggest port city and a traditional industrial base, Tianjin is aiming to become the country's third fast-growing area besides the two economic engines in the Pearl River Delta in south China and the Yangtze River Delta in east China.
(Xinhua News Agency May 9, 2009)
