Xiamen Tianma, a liquid crystal display supplier, will receive 6 billion yuan (HK$7.5 billion) from its shareholding companies to build new production lines, Avic International Holdings said on Wednesday night. Tianma is a joint venture between wholly-owned Avic International Holdings’ subsidiary Xiamen Company, which has a 6 per cent stake, AVIC Shenzhen (15.3 per cent), AVIC International (14.7 per cent), and Xiamen Jincai (64 per cent). The money injection will be carried out on a pro rata basis, so Xiamen Company will offer 360 million yuan (HK$450 million). Its stake in Tianma will remain 6 per cent after the injection. Total investment in the production project will be 12 billion yuan. Besides the capital injection, Tianma will also borrow 6 billion yuan from banks to finance the project. “The capital injection and the bank loan will provide additional registered capital and working capital to Xiamen Tianma to enable it to implement the investment project, thus facilitating Xiamen Tianma’s continuous business development and bringing better investment returns for Xiamen Company as one of its shareholders,” AVIC International Holdings said. The project will expand Tianma’s capacity to produce coloured filters, and will be based in the Xiamen Hi-Tech Industrial Development Zone. Construction is expected to be completed in 30 months.