Guangzhou Daily reported that Midea Group reached an agreement with the Hefei government to construct a central air-conditioner production base at Hefei in Anhui province on September 5th.

Midea Group will invest CNY 2 billion in the project and it is currently the largest investment project in the central air-conditioning industry.

According to the Midea Group, the Hefei central air-conditioner production base will have an area of 1,000 mu and could generate an industrial output of CNY 10 billion per year upon completion.

The production base is scheduled to start operations in October 2011.

Midea Group sales revenue from central air-conditioners is likely to exceed CNY 20 billion.

(Sourced from Guangzhou Daily)