14.8 Billion Yuan! Shangji Automation to Invest in 40GW Monocrystalline Silicon Project in Baotou City

PVTIME – On June 22, Wuxi Shangji Automation Co., Ltd. (hereinafter referred to as Shangji Automation) (603185.SH) announced that Hongyuan New Materials (Baotou) Co., Ltd., a wholly-owned subsidiary of Shangji Automation, intends to invest approximately CNY 14.8 million in monocrystalline silicon pulling and related supporting projects in Baotou City, Inner Mongolia, China.

According to the announcement, an annual output of 40 GW monocrystalline silicon pulling is expected, among which the production capacity of 20 GW is planned to reach in the first phase, and another planned 20 GW for the second phase which will be advanced according to the market.

Shangji Automation stated that these projects are important steps for increasing the production capacity of the company. The company would like to expand its business scale and enhance its comprehensive competitiveness with its own advantages and the supports based on local policies. These projects are in line with the company’s development strategy in the photovoltaic industry chain and are expected to gain huge profit once upon completion.