Konka Group (SHE:000016, SHE:200016) plans to invest 1.5 billion yuan to build an industrial base that will produce washing machines, according to a Shenzhen Stock Exchange filing on Friday.
The plant in Nanjing Jiangbei New District, China, will produce 2 million washing machines every year.
The Chinese electronics products manufacturer signed a deal with Nanjing Jiangbei New District Intelligent Manufacturing Industry Development Management Office to operate the industrial base for at least 15 years.
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