November 8--Fushun Hi-tech Electric Porcelain and Equipment Manufacturing Co,. Ltd., a subsidiary of industrial machinery manufacturer, Create Technology and Science (000551.SZ), plans to spend 245 million yuan in company funds to construct an electric porcelain industrial base, reports China Securities Journal, citing a company filing.

The facility is located in Liaoning’s Fushun Economic and Development Zone and has a two-year construction period ending in June 2013. Once production begins in 2014, the new base will produce 21,000 tons of porcelain each year, generating an annual sales turnover of 296 million yuan and annual net profit of 34.96 million yuan.

The return rate on the investment is 16.80 percent with an after-tax payback period of seven years.