QINHUANGDAO, CHINA – Foxconn plans to invest $1 billion in the manufacturing of electronics products over the next three years in Qinhuangdao, according to Xinhua.net.

The company will build an industrial park in the Beidaihe district of Qinhuangdao, according to Terry Gou, president of Hon Hai Precision, the parent company of Foxconn.

The park will contain nanotechnology R&D centers and electronics manufacturing factories for PCBs and signal transmitters. The location reportedly will create 35,000 jobs, says Foxconn.

Qinhuangdao is situated in Hebei province, about 300 km east of Beijing.

In February, Foxconn started a $99- million project in Langfang City, located between Beijing and Tianjin City in northern China.