PVTIME – Recently, Hangzhou First Applied Material Co., Ltd. (603806.SH), a leading manufacturer for EVA film, announced its intention to reallocate its raised funds of 300 million yuan (approximately US$ 42.63 million) to the construction of a film factory in Thailand from originally a film factory in Guangdong Province, China.
According to the announcement, the funds raised were originally to be invested in solar PV film factories, rooftop solar projects and distributed PV projects in China. However, after careful negotiations, the funds will be invested in a film factory in Thailand, which is expected to start construction in 2024 and be completed in 2025, with a total investment of US$159 million. Once completed, the new factory will produce 250 million square metres of PV packaging film for high-efficiency solar cells per year.
The change is mainly due to the rapidly growing demand for PV film in the overseas market. First Applied Material needs to expand its production capacity to meet the global demand for PV film. Meanwhile, the development and construction of film factory in Guangdong is slow, while the progress of new facility in Thailand is effective, therefore won priority of investment in Thailand factory.
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