OREANDA-NEWS. TCL Corp, the world's fourth largest TV set producer, has started construction on an industrial park in Hefei, capital of East China's Anhui province.

Covering a total area of 133 hectares, the facility is expected to cost 7 billion yuan (USD 1.1 billion) and have an annual output value of more than 20 billion yuan, Chen Weidong, the company's CEO, said at a meeting involving TCL and 100 suppliers of home appliance components on Tuesday.

Supporting industries worth an estimated 12 billion yuan will have entered the industrial park, with a TCL plant as its center, by 2018, said Chen.

Dubbed the "Capital of White Goods", the city accounts for 30 percent of the country's total output of fridges and washing machines.

"To some extent such a high attendance suggests the city is well capable of gathering upstream industries and service providers around household appliance makers," the CEO said at the meeting, adding that roughly 90 percent of what is needed for the operation of the Hefei plant will be provided right here in the park.

The park is due to be completed in 2017. Its first phase, set to have a 10,000-strong workforce, will go into operation in August, 2014, he said.