Elec-Tech revealed on January 14th plans to establish a joint venture focused on LED production in Bengbu city, Anhui Providence. The joint venture will have a registered capital of RMB 1.4 billion (US $231.4 million), of which RMB 1 million is provided by Elec-Tech through funds, materials, and intangible assets. The company will own 71.43 percent in shares. The other 28.57 percent is owned by Bengbu City Holding Corporation who invested RMB 400 million.