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.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.