Over at the Sun (002506) announcement, the company intends to Luoyang in Henan Industrial Zone Yanshi Super Sunshine (Luoyang) photovoltaic industrial park, the park covers an area of 449.39 acres of photovoltaic industry, planning and investment projects for the year producing 800MW of polysilicon ingots, silicon chips, solar cells project.
project total investment of 3.6 billion goal, the project for construction in four phases (each investment of 9 billion), plans to build starting and ending period is from June 2011 to June 2016.
Phase I, Phase II project (with an annual output of solar cells 400MW) a total investment of 1.8 billion, the project construction period is 3 years, the project is put into production is expected to achieve average annual sales income of 3.822 billion yuan The annual average profit 546,201,000 yuan, investment recovery period is expected to 6.7 years (including construction period).
company said, over at the Sun (Luoyang) photovoltaic industrial park is based on the company has mastered the solar cells from silicon ingots to the full set of sound and mature production technology, the development of the heavy volume of new expansion plans. Polysilicon crystalline silicon solar cells is an important raw material, Luoyang Industrial Zone Yanshi polysilicon is the important production base for implementation of this Agreement is conducive to the company a steady supply of polysilicon raw materials to expand the company production.
In addition, the company intends to set up a wholly owned subsidiary in Luxembourg, with registered capital of 10 million euros, the company invested its own funds to purchase foreign exchange for all capital investment, subsidiaries, is principally engaged in the development of the European solar market and related investment business. (Wong Kam)
(This article Source: China Securities Journal)
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