On August 12, the BOE Group announced that it will invest CNY22 billion ($3.5 billion) to build a Gen 5.5 (1300 × 1500 mm) AMOLED production line in Ordos, a city in the Gobi desert in China’s Inner Mongolia Province. As part of the deal, the Ordos government will give BOE warrants of at least one billion tons of coal, which is worth approximately CNY10 billion ($1.6 billion) based on current prices. BOE has no coal development expertise, and the company indicated that its initial plan is to transfer part of its shareholding to a third party to develop the coal mine, but the details have not been finalized, and the final agreement has not yet been signed.
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