(Yicai Global) June 17 -- A unit of Desai Battery Technology will construct a CNY2.6 billion (USD375.4 million) plant in southern Guangdong province to make power units for Internet of Things devices in order to improve its product offering.

Desai Battery plans to pen a construction agreement with Zhongkai High-tech Industrial Development Zone in the city of Huizhou, the Shenzhen-based firm said in a statement today, without disclosing the project schedule.

Desai Battery expects to expand its product portfolio in the field of medium-sized lithium batteries and other types of power units with the new factory and sell CNY7 billion worth of products. 

The high-tech park will provide 330,000 square meters of industrial land for the project and the total construction area is expected to amount to 600,000 sqm.

Editor: Emmi Laine