(Yicai Global) Aug. 11 -- Electronic display giant BOE Technology Group Co. [SHE:000725] has signed an agreement with the municipal government of Wuhan, in China's central Hubei province, to invest CNY46 billion (USD6.9 billion) to build a factory for 65-inch LCD TFT-LCD display modules and related projects in the city, BOE said in a press briefing on Aug. 10.

Hubei Changjiang Economic Belt Industrial Fund Management Co. will also take part in the project.

Beijing-based BOE plans to start construction in the fourth quarter of this year and finish within two years. The facility will produce 120,000 displays per month.

The display-maker will directly contribute CNY6 billion in registered capital to the project and the municipal government will raise the remainder.

BOE also plans to build a CNY10 billion health industry park with a digital medical center, a health demonstration community and a medical transformation and intelligence center.

Wuhan Municipal Government will also work with the firm to bring competitive glass substrate makers to the area.