Foxconn Technology Group plans to set up a LCD TV plant in Chongqing with an annual production of 3 million TV sets, the First Financial Daily reported on Friday.

The plant is expected to have an annual sales income of 12 billion yuan ($1.92 billion), the report said.

The touch-screen LCD TVs produced by Foxconn in Chongqing will be the first of its kind made in China, Huang Qifan, mayor of Chongqing, said at the signing ceremony on Thursday.

Kuo Tai-ming, Foxconn’s president, said that the company invested in Chongqing because the city has a strong executive team.

Another reason is that Chongqing’s government provides public housing for the company’s employees and takes care of other legal issues, Kuo said.

Foxconn and HP invested in Chongqing for the first time in 2009 to produce laptops there. Chongqing is now the biggest laptop production base in the world.