ZTE Planning $880 Million R&D Center
China's ZTE is planning a RMB6 billion (US$880 million) R&D centre in Xian, the capital of Shaanxi province. The company said that its Xian Hi-tech Park would bring its research and development, production, outsourcing services and customer service training under one roof.
The new facility will take eight years to complete and will occupy about 1.33 million square metres.
"Through the implementation of the project the company will be able to capitalise on the pool of human and other resources in Xian, laying solid foundations for its business development and creating sound economic benefits," the company said in a statement filed with the stock exchange.
ZTE chairman Hou Weigui said "Investment estimates have indicated sound returns for the company,"
The R&D centre will be located in an industrial Development Zone which covers some 35 sq km and houses over 10,000 firms.
Posted to the site on 7th October 2008
