Geely plans 2b yuan capex at Lanzhou

Geely Automobile Holdings Ltd is eyeing the lucrative automobile markets in countries near China and said it would invest 2 billion yuan over the next three years to boost car manufacturing capacity at its Lanzhou plant in Gansu province.

The expanded plant, when completed in 2012, is likely to generate revenue to the tune of 10 billion yuan, said company officials.

The capacity of the Lanzhou plant would go up to 120,000 units from 50,000 units now, said the officials.