By Gabby Chen

(JW Insights) Feb 15 -- Hong Yuen Electronics (康源电子), a Chinese PCB maker, started its IC substrate project in Nantong of eastern China's Jiangsu Province on February 11.

The production base has a total investment of RMB5 billion ($730 million) and covers an area of 131,333 square meters, which can produce 860,000 square meters of IC substrates after completion.

Zhou Weibin, head of Hong Yuen Electronics, said that the new project aims to meet the increased IC packaging requirements in the market.

Founded in 1977, Hong Yuen Electronics has plants covering 100,000 square meters. It is a wholly-owned subsidiary of China Aerospace International Holdings (航天控股). Its head office is in Dongguan, southern China's Guangdong Province.

The company announced its decision for the substrate project in Nantong in June last year.