BOE Display announced that it has been awarded a 124 million RMB (about $20 million) subsidy from the local Chinese government at Hefei Xinzhan towards its Gen-8.5 OLED fab in the area. BOE currently has a Gen-8.5 pilot fab in Hefei, and it seems that this report confirms that BOE Display decided to go ahead and build a real mass production Gen-8.5 OLED fab.
BOE's expected total investment in that fab is currently estimated at 6.7 billion RMB - or just over $1 billion. I do not have any information regarding when they expect to start producing panels at that fab. Using their existing pilot line, BOE produced 55" 4K OLED TV samples (you can see one above) - and these were on display at SID 2014.