China Aerospace Times Electronics (SHA:600879) subsidiary Aerospace Times Feihong will invest 420 million yuan in the second phase of its unmanned aerial vehicle (UAV) equipment industrial base in Yanqing, Beijing.
The 36-month project focuses on the construction of the needed capabilities for the research and production, testing and simulation tests of related series of unmanned systems, according to a May 24 filing with the Shanghai bourse.
The project includes a total additional construction area of 48,812 square meters and 22 sets of new process equipment.
Shares of the aerospace company rose 1% in recent trade.
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