Qingdao's first photoelectric display industrial park starts construction

A photoelectric display industrial park, the first of its kind in the eastern hub of Qingdao, Shandong province started construction on Oct 10 in the West Coast New Area.

With a total investment of 3.5 billion yuan ($542.85 million), the industrial park is invested and constructed by Zoina Hi-Tech and a Beijing-based venture capital firm. The first phase of the project will span 11.27 hectares.

Focused on the new generation of information technology, the park will introduce high-quality enterprises in fields such as optoelectronics, new materials, electronic communication and intelligent equipment.

The park is expected to have an annual output value of about 2 billion yuan and create more than 3,000 jobs.

The project will contribute to local government's efforts in building Qingdao West Coast New Area into a highland of photoelectric display industry in North China, said Qingdao authorities.