The photomask manufacturing project, invested in by Chongqing Maite Optoelectronics Co with a fund of 2.2 billion yuan ($320.32 million), officially broke ground on April 24 in Liangjiang New Area of Southwest China's Chongqing municipality.

The project is estimated to start operation in 2024, and its large-scale production is expected to be carried out in the fourth quarter of that year.

Chongqing Maite Optoelectronics Co was founded by Japan-based HOYA Co and Beijing-based BOE Technology Group Co.

At the ground-breaking ceremony, senior members of HOYA, BOE, Maite, as well as officials from the new area and from the Japanese Consulate General in Chongqing delivered keynote speeches.

Mari Takada, consul general of the Japanese Consulate General in Chongqing, highlighted that this is the first large-scale photomask manufacturing project in China, and expressed the hope that it will make huge contributions to Chongqing's electronic information industry.

Li Jie, deputy director of Liangjiang's administrative committee, spoke highly of HOYA, which is a world leading photomask provider with advanced technologies in optical imaging, electronic equipment and spare components, and medical facilities. She also praised BOE, whose output of intelligent phones, laptops, tablet computers and displays ranks first in the world.

Li believes that the win-win cooperation of the two manufacturing giants will accelerate display panel upgrading throughout the new area, and promises that Liangjiang will offer convenient services to serve the project.

The photomask is one of the core spare parts for the production of display panels. The project is expected to annually produce about 2,250 photomask products and generate 700 million yuan in output value.