20.6 Billion Yuan! Zhonghuan to Invest in Silicon Materials and R&D Center in Inner Mongolia, China

PVTIME – On April 7, Tianjin Zhonghuan Semiconductor Co., Ltd. (002129.SZ)(hereinafter referred to as Tianjin Zhonghuan) announced that it has reached an agreement on the jointly investment in the Inner Mongolia Central Industrial Base Projects with TCL Technology (000100. SZ), a leading Chinese manufacturer of TVs and display panels, the People’s Government of Inner Mongolia Autonomous Region and the People’s Government of Hohhot City, and has signed the Strategic Cooperation Framework Agreement and Cooperation Agreement.

According to the Agreements, the followings will be built in the Inner Mongolia Central Industrial Base:

1. High-purity polysilicon project with an estimated production capacity of about 120,000 MT.

2. Semiconductor monocrystalline silicon materials project and supporting projects.

3. National Silicon Material R&D Center. 

The total planned investment of the above projects is approximately 20.6 billion yuan. The progressing and investment details of the projects will be subject to the approval of the authorities of the companies and related institutions.

Tianjin Zhonghuan stated that the People’s Government of Inner Mongolia Autonomous Region, People’s Government of Hohhot City and the companies had well cooperated since 2009 based on the principles of Friendship, Equality, Mutual Benefit and Jointly Development. Tianjin Zhonghuan would like to provide its technical experience and management advantages in the field of semiconductor and photovoltaic materials production, to further expand the PV market as well as the processing chain in Inner Mongolia and build a “Silicon Valley” there with the three parties.