UPDATE 1-Dongfang Electric to invest $1.5 bln in 2009

* Invest more than $1.5 bln in 2009

* Production facility rebuild ahead of schedule

(Adds details, background)

BEIJING, March 6 (Reuters) - Dongfang Electric Group plans to invest more than 10 billion yuan ($1.46 billion) in production facilities in China this year to capture opportunities arising from the government's stimulus package.

Its listed arm, Dongfang Electric Corp (600875.SS)(1072.HK), would invest about 80 percent of the total amount, group chairman Wang Ji told reporters on Friday on the sidelines of the annual parliamentary meeting.

"This will be the highest investment by the group in history," Wang said. "We will capture every investment opportunity within the government's 4 trillion yuan stimulus package."

Clean energy was a rapidly growing business segment for the company, Wang said, adding that the portion of wind power in all orders had risen to 10 percent last year from nothing in 2004.

The May 12 earthquake destroyed more than 260,000 sq m of Dongfang's plant and over 2,000 machines and killed more than 300 employees and their relatives, Wang said.

The plan to rebuild a factory at a different location by May 12, 2010, two years after the earthquake, would be realised ahead of schedule, Wang added.

Dongfang Electric said last July the loss caused by the earthquake was not expected to exceed 1.6 billion yuan ($234.6 million). (Reporting by Michael Wei and Joanne Chiu; Writing by Alison Leung; Editing by Nick Macfie)