PVTIME – On 26 December 2023, Tongwei Co.,Ltd. (Tongwei, 600438.SH), a leading company engaged in the R&D, manufacturing and marketing of core solar products, announced that it will invest 28 billion yuan to build an integrated renewable energy product manufacturing base in Ordos, Inner Mongolia, China.
The facility will be completed in two phases. The first phase aims to reach a production capacity of 200,000MT of high-purity silicon and 200,000MT of industrial silicon materials with an estimated investment of 13 to 14 billion yuan within 15 to 18 months before the end of 2025. The start date of the second phase has not yet been decided, while it aims to add another production capacity of 200,000MT of high-purity silicon and 300,000MT of industrial silicon materials.
This new production base will require a large amount of funds, which Tongwei plans to reasonably use its own funds and loans from financial institutions to ensure the implementation of the project with minimum risk of cash shortage. And the new plant is expected to take advantage of the rich natural resources and perfect PV industry chain in the Inner Mongolia region, benefiting both the local people with low carbon emission and high economic return, and Tongwei with leading position in the industry.
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