Shenzhen Kedali Industry (SHE:002850) will invest in establishing a harmonic reducer production base in Rayong, Thailand via a joint venture with Taiwanese partners Mirror Mechatronics and Mirror Motion.

Total investment in the joint venture, Thailand Komeng, is up to 350 million yuan, with the company contributing 51%, according to a Wednesday filing with the Shenzhen bourse.

The project is targeting an annual output value of 700 million yuan. Construction will take about 18 months.

Shares of the battery structural component manufacturer rose 1% in recent trade.