LG Electronics Inc., South Korea's second-largest electronics maker, will invest 220.2 billion won ($167 million) to build two production lines in Gumi, south of Seoul, to make solar cells.
The investment will be completed by December 2010 and production is expected to begin during the first quarter of 2010, the Seoul-based company said in a statement today. Each production line will have a capacity of 120 megawatts, LG said.
LG last month agreed to set up a venture with Conergy AG, Germany's second-largest solar company, to make solar cells as the company seeks to expand into the renewable energy business.
