BOE Technology Group Co Ltd, one of the largest LCD producers in China, Thursday announced that it has inked agreement with state-owned Beijing International Trust Co Ltd and other two Beijing-based firms to build the country's first eighth generation TFT-LCD production line.

The project, which will involve investment totaling RMB 28.03 billion, will be located in Beijing Economic-Technological Development Area.

BOE's newly established display technology firm will complete the project construction in 26 months. As part of the agreement, Beijing International Trust will inject RMB 8.5 billion into the project firm in exchange for a 49.3% stake in it, which will dilute BOE's stake in the subsidiary from 90% to 49.6%. Meanwhile, BOE will apply for bank loans to finance the project.

The 8G TFT-LCD production line will mainly produce 26-inch, 32-inch, 47-inch, 52-inch and 55-inch LCD TV displays and modules. It is estimated that the production line can monthly output 1.15 million units of LCD modules, which will be mainly used to produce mainstream LCD TVs.

The 8G TFT-LCD project is the most advanced TFT-LCD production line in mainland China. The country currently imports 8G TFT-LCD panels from its neighbors such as Japan and Korea.

Currently, BOE has a fifth generation TFT-LCD production line in Beijing and a 4.5 generation TFT-LCD production line in Chengdu.