(Yicai Global) Oct. 24 -- The share price of China's Nata Opto-Electronic Material climbed today after the firm said it will invest CNY600 million (USD84.9 million) to produce high-purity materials for high-voltage integrated circuits in eastern China's Ningbo.

Nata's [SHE: 300346] stock price rose 3.3 percent to CNY12.73 (USD1.80) in the afternoon. 

Nata penned an investment agreement with the management of the Ningbo Economic and Technological Development Zone to build a production line of the advanced materials, the Suzhou-based metal organic compounds maker said in a statement yesterday. 

After completion, the firm expects the annual sales of the project to climb to CNY1 billion (USD141.5 million) with a pre-tax profit of CNY200 million, it added. 

Editor: Emmi Laine