A major liquid crystal display (LCD) company officially kicked off production in this Guangdong provincial capital on Monday.

After a grand inauguration on Monday afternoon, LG Display (China) Co. Ltd will be able to monthly produce 60,000 LCD front boards before 2016. But the figure will increase to 120,000 a month beginning 2016.

Chen Jianhua, mayor of Guangzhou, said the LCD production facility will help fortify Guangzhou as a major production base of LCD product in Asia.

"The project has of great significance in further upgrading the city's industrial structure, and help further raise the country's LCD TV's competitiveness," Chen said at the opening ceremony.

Located in Guangzhou's Luogang district, the project which attracted an investment of more than $4 billion is also largest foreign-funded project that has set up in Guangzhou so far. South Korea’s big name LG company represents 70 percent of the total investment.

Covering an area of more than 330,000 square meters, provides more than 20,000 employment opportunities. It is a key project in the southern metropolis.