The groundbreaking ceremony for a major optoelectronic semiconductor materials plant project is held in Lishui Economic and Technological Development Zone. [Photo/Lishui Daily]

The groundbreaking ceremony for the Tunghsu Group's high-end optoelectronic semiconductor materials plant project in the economic and technological development zone of Lishui city in East China's Zhejiang province was held on June 14.

The project, with a total investment of 11 billion yuan ($1.64 billion), is the city's first big manufacturing project worth over 1 billion yuan.

Covering a total land area of 30 hectares, the plant will adopt the most advanced technology in the production of photoelectric semiconductor materials in China.

"Lishui's government service efficiency and development environment attracted us to invest in the city," said Li Zhaoting, chairman of Tunghsu Group. "Our plan is to build Lishui into a global semiconductor and photoelectric display material industry highland within three years."

In 2019, Lishui Economic and Technological Development Zone started from scratch, and has since successively introduced 22 enterprises in the semiconductor sector, forming the second full semiconductor industry chain in Zhejiang province.

According to zone officials, the project will no doubt enhance the scientific and technological strength and independent innovation ability of Lishui's semiconductor industry chain and supply chain.